Base metals prices on the London Metal Exchange ended mostly lower Wednesday October 31, pressured by a fresh 2018 high in the US dollar index.
The three-month nickel price was hardest hit, falling 2.5% over the afternoon to an intraday low of $11,500 per tonne. Both three-month copper and zinc fell below nearby support levels - copper fell below $6,000 per tonne for the first time since September 17 while zinc closed below $2,500 for the first time since September 20. "There is no evidence of rising stocks in any of the metals we follow; inventories across the board continue to fall and spreads remain backwardated, telling us that that the metals group is not flooded with units as was the case during...