Base metals forward prices on the London Metals Exchange consolidated on the morning of Friday January 8, ending a week when some reached multi-year rises, due to a recovery in the dollar index.
The three-month nickel price was down by 1.2% on Friday at 9am to $17,895 per tonne, while zinc fell by 1.4% to $2,848 per tonne from Thursday's closing prices of $18,109 per tonne and $2,888 per tonne respectively. Nickel had been rallying all week until Friday, reaching $18,200 per tonne during Thursday trading on positive sentiment around electric vehicles and the upcoming inauguration of Joe Biden as US president, a 4% gain from its Monday closing price of $17,404 per tonne. The zinc price had also been on...