Three-month zinc and nickel both fell by more than 2% on Friday January 8, with the LME base metals ending the week with pullbacks from the highs reached in the first days of 2021 after a US Dollar Index rebound.
Zinc's three-month price was down 2.6% at the 5pm close on Friday at $2,813.50 per tonne, compared with Thursday's closing price of $2,888 per tonne. Nevertheless, the galvanizing metal remains above the $2,800 per tonne threshold that it crossed on Tuesday. And despite the pullback, zinc's price reached an intraday high of $2,897 per tonne on Friday, just $3 shy of the 2020 high of $2,900 reached on December 21. Similarly, nickel's three-month price was $17,667 per tonne on Friday at 5pm, 2.4% lower than Thursday's closing price of $18,109 per tonne. The stainless steel additive had a whirlwind week, starting with a 4.8% rise on Monday to $17,404 per tonne,...