Base metals traded on the London Metal Exchange made marginal gains by the afternoon kerb on June 17 buoyed by dovish whispers from the US Federal Reserve and a weakened US dollar index, with the exception of nickel and tin who made respective losses.
The LME three-month nickel price has failed to capitalize on its uptrend from the previous day of trading, falling to around $11,760 per tonne in the afternoon and down by 2.7% from the intraday high of $12,095 per tonne on Friday June 14.The weakening in the LME three-month nickel price is supported by lackluster physical and speculative demand while LME nickel stocks rose to 167,148 tonnes as of 9am on June 17 with 4,224 tonnes of material delivered into...