Prices in the base metals complex consolidated higher at the close of trade on Friday January 18 amid continued optimism about trade talks between the United States and China, and increased bullish sentiment overall.
The London Metal Exchange 3-month nickel contract closed in Friday trading at $11,820 per tonne, and was the day's biggest mover, up by 1.9% from Thursday's closing price.Nickel was trading at a two-month high and was up by 3.3% this week. Nearby price spreads continued to be tight, with the cash/February price now in a $1 backwardation, although this was down from the $35 backwardation seen on Monday.Zinc closed on Friday at $2,580 per tonne, up by 1.2% since the close of trade on Thursday and up from Monday's opening price of...