Base metals prices on the London Metal Exchange were mixed at the close of trading on Friday October 26, with a continued downtrend in the three-month nickel price coming amid better-than-expected third-quarter GDP figures from the US.
Reaching an intraday low of $11,810 per tonne on Friday afternoon, the three-month nickel price was trading at a 10-month low amid mounting pressure from a strong US dollar index, which is at its highest level since July. Marginal climbs in the three-month aluminium and lead prices were evident over the afternoon, however, both metal's failed to push back above $2,000 per tonne."The LME aluminium price remains suppressed by ample supply as well as uncertainty about demand. The US-China trade war, in addition to the latest extension to the UC Rusal deadline and the sizable inflows of stock into LME-listed warehouses have capped buying interest since the October 4 high at $2,267 per tonne," Fastmarkets MB...