A slight rebound in the US Dollar Index failed to stop rises in the prices for nickel (up by 1% at 5pm), aluminium and copper, but it triggered a slight decrease for the other half of the London Metal Exchange base-metals complex.
Nickel's three-month price reached a new year-to-date high of $18,840 per tonne during afternoon trading on the LME on Tuesday February 16, and it was $18,814 per tonne at the 5pm close, a 1% increase from Monday.The metal has rebounded sharply since its lowest so far this month of $17,465 per tonne on February 4, rising by nearly 8% since then.It has done so despite acutely low volumes traded on the LME on Tuesday, of just over 3,400 lots at the time of writing. This compared...