Base metals prices on the London Metal Exchange were mostly higher during morning trading on Thursday February 15, building on gains registered on Wednesday when the complex moved up by an average of 2.1%.
The three-month nickel price was once again the strongest performer, hitting a fresh 2018 high of $14,420 per tonne. But volumes for all metals remain thin. "With Chinese markets closing down for the Spring Festival this week, volumes are expected to be low in many commodity futures markets," ANZ Research said. "However, when they return, all eyes will be on their mentality. Imports were strong in January, suggesting they restocked aggressively into the New Year. If this sees them hold back on their return, we could see prices come under some downward pressure," it added. Copper and lead...