Base metals prices on the London Metal Exchange were stable during morning trading on Friday January 26, with recent gains well supported by the weak dollar.
"There is a sluggish feel to the session so far mixed with nervousness as the fate of metals is firmly tied to the hourly moves on DXY [US Dollar Index] thereby reducing conviction for the bulls and making day traders jumpy," Matt France of Marex Spectron said. The strongest performer of the complex continues to be nickel - trading a further $115 per tonne higher and remaining around a two-and-a-half-year high. Nickel prices are being supported by strong seasonal demand and the dollar being at its lowest since December 2014. The three-month zinc...