Nickel rebounds from 6-year low on Wednesday
Xinhua, April 2, 2015 Adjust font size:
The base metal prices on the London Metal Exchange (LME) closed lower on Wednesday.
Nickel prices rebounded from their lowest level in nearly six years on Wednesday due to profit-taking and short-covering.
"There's some profit-taking and short-covering, but only to a small extent. My personal feeling is that we'll see much lower nickel prices over the next couple of months," said analyst Daniel Briesemann at Commerzbank in Frankfurt.
The three-month unofficial copper price dropped 57 U.S. dollars, or 0.94 percent, to 6,018 U.S. dollars per tonne.
The three-month unofficial aluminum price lost 28 U.S. dollars, or 1.55 percent, to 1,775 U.S. dollars a tonne.
The three-month unofficial lead price increased 30.5 U.S. dollars, or 1.69 percent, to 1,830 U.S. dollars a tonne.
Besides, the three-month unofficial zinc price lost 8.5 U.S. dollars, or 0.41 percent, to 2,084 U.S. dollars a tonne.
The three-month unofficial nickel price increased 20 U.S. dollars, or 0.16 percent, to 12,562.5 U.S. dollars a tonne.
The three-month unofficial tin price lost 250 U.S. dollars, or 1.49 percent, to 16,550 U.S. dollars a tonne. Endit