Nickel and aluminium were the stand-out metals during the afternoon session on Wednesday May 26 on the London Metal Exchange, with slight rises for the rest of the base metals - except for zinc - after a start of the week that saw lower prices across the complex.
Nickel's price was up 1.5% to $17,288 per tonne on Wednesday, its highest in the past week following a bout of weakness triggered on the LME by inflationary pressures and warnings from China about high commodity prices.
"Fundamentally, nickel is in a good position, so higher prices are likely in the long run. In the short term, price moves are more dependent on sentiment and noise, making them harder to predict. Still, we think that a retest of the year's high (of $20,110 per tonne) is possible in the months ahead," Fastmarkets analyst Boris...