Metals rise, but slight dip for nickel

A SLIGHTLY better session for the metal commodity complex took place at midweek generally, although nickel lost more than 2% as did iron ore.
Metals rise, but slight dip for nickel Metals rise, but slight dip for nickel Metals rise, but slight dip for nickel Metals rise, but slight dip for nickel Metals rise, but slight dip for nickel

Staff Reporter

The buying was reportedly more about sentiment than fundamentals, with recent slumps in prices encouraging traders to get active at lower levels.
 
Background noise included consumer price index data in the US being hotter than expected, paving the way for another interest rate rise in September.
 
In China, the producer price index also rose faster than expected as the lockdowns impacted supply chains.
 
At midweek, copper rose 1.2% to $9340/t and zinc 2% to $3668/t while gold was at $1853/oz. Nickel fell 2.1% to $27,806/t and iron ore was at $129.50/t
 
Stocks in the US were weaker. The major multinational mining equities were 3.4% to 4.5% stronger in London, while the big gold sector in Toronto lost nearly 0.7%.
 

topics

loader