Prices under pressure With Chinese market participants away for the Golden Week holiday, trading volumes across the base metals remain light. While the other metals are generally consolidating recent rebound gains and are somewhat well-bid, LME nickel has come under selling pressure – seemingly more sensitive to the softer economic data out of China. The official and Caixin manufacturing PMIs both came in below market forecasts, stoking concerns that the ongoing trade disputes with the US are slowing the second largest economy. Showing its vulnerabilities to macro worries...
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