Nickel's price on the London Metal Exchange was down by 2% on Monday May 10 and back to levels seen one week earlier, with base-metals prices across the board lower following an extended bullish period during which copper, aluminium and zinc reached new highs.
The three-month nickel price was the most strongly affected by profit-taking on Monday, and was last seen at $17,705 per tonne, down from Friday's closing price of $18,082 per tonne. This was after having reached an intraday high of $18,265 per tonne during trading, the highest since March 3.Other metals which had been boosted to new highs in recent trading days, such as copper, aluminium and zinc, were...