A lower dollar index supported higher base metals future prices on the London Metal Exchange in the morning of Tuesday February 9, with nickel gaining the most in percentage terms.
Nickel's three-month price was up by 1.3% on Tuesday at 9am to $18,405 per tonne from Monday's closing price of $18,167 per tonne, starting its fourth straight day of gains.
The metal reached $18,425 per tonne during early trading today, close to its year-to-date high of $18,515 per tonne from January 21 and the highest the three-month price has been since January 25.
The bullish momentum extended to zinc, which posted a 0.9% increase in its three-month price to $2,675 per tonne on Tuesday morning, the highest it has been since the last week of January.
LME prices have been fueled by a lower dollar...