London Metal Exchange nickel, zinc and tin prices hit new 2020 highs on the morning of Wednesday December 9, with the base metals complex upbeat due to new proposals for a US Covid-19 stimulus package and the dollar index remaining low.
Zinc's three-month price was up 1.9% at $2,852.50 per tonne on Wednesday from Tuesday's closing price of $2,799.50 per tonne. This price set a new high for 2020, and surpassed levels not seen since May 1, 2019, when it hit $2,845.50 per tonne. The three-month nickel price has also hit a new year-to-date high on Wednesday morning, reaching $16,585 per tonne, overtaking the previous high of $16,525 per tonne seen on November 30. Tin was the third metal to set a new year-to-date high on Wednesday, coming to $19,280...