Base metals prices on the London Metal Exchange were little changed during morning trading on Thursday January 25, while most metals held on to Wednesday's rally.
The weak dollar remains a key supporting factor for base metals prices. It fell to a low of 88.81 this morning, its lowest since 2014. "Every few years it seems an event takes place that upturns current market logic and changes the entire game. The statement by the new head of the Federal Reserve Steven Mnuchin that a weak US dollar was ok amid fears of a trade war with China has sent the dollar index into a spiralling decline," Malcolm Freeman, Kingdom Futures noted. The three-month nickel price was the strongest performer of the complex on Wednesday - climbing over 5% at the close. The price dipped $10 this morning but remains trading at...