Base metals futures on the London Metal Exchange were largely lower at the 5pm close on Wednesday November 17, succumbing to a strong US dollar index and other headwinds.
The US dollar index remained at its highest since July 2020, touching 96.27 during early trading before stepping back to 95.83 at the close."It seems that the upside momentum has stalled in several markets over the last 24 hours as a stronger dollar and rising US rates seem to be holding rallies back," ED&F Man commodity research head Edward Meir said."Moreover, some of the costs that have been keeping commodity prices elevated, such...