Selling continued on the London Metal Exchange throughout Thursday May 13, leading to lower prices at the close, after higher-than-expected inflation readings from the United States triggered concerns of interest-rate increases on Wednesday.
Nickel's three-month price was most affected on Thursday, with a decrease of 2.6% to $17,323 per tonne from Wednesday's $17,797 per tonne.Meanwhile, the three-month zinc price also fell below the $2,900 per tonne mark at one point during trading for the first time since May 4, with an intraday low of $2,882 per tonne. The metal had reached a year-to-date peak of $3,063 per tonne on Monday.Zinc's price bounced back to $2,920 per tonne on Thursday at the close, but it was still down by 1.6% from Wednesday's...