Base metals prices on the London Metal Exchange were mostly in negative territory once again during morning trading on Thursday February 8, with nickel dropping back below $13,000 per tonne.
The three-month nickel price has now plummeted 7.2% since it hit $14,000 per tonne last Thursday. The recovery in the dollar has put pressure on prices; most recently it was trading 0.32% higher at 90.55 - the highest since early January. "The heavy selling in crude oil market stoked fears across the entire [commodities] complex, with base metals particularly battered. It wasn't helped by a stronger USD, which dampened investor appetite for metals," ANZ Research said. Copper prices also continued to fall, now trading at $6,885.50 per tonne and down over $300 since the start of the week. The copper...