Nickel stems recent losses

INDUSTRIAL metals were again generally soft this week but nickel stemmed the flow of its recent losses with a mid-week gain of 1.5%.

  • Staff Reporter
  • 01 December 2017
  • 04:59
  • News
Nickel stems recent losses

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The general weakness of late in base metals is seen as related to concerns about a slowdown in China.
 
For the gold market, North Korea became yesterday's news and the theme for the day yesterday was the outlook for US interest rates, and in particular, the likelihood of increased rates.
 
Overnight, the gold price was fixed at $1277.19, slightly down.
 
The WTI crude oil price was slightly down overnight at $57.28 per barrel.
 
In softer commodities, cocoa decreased $46 per tonne or 2.19% to 2050$/t yesterday from the $2096 in the previous trading session, tradingeconomics.com reported. Historically, cocoa reached an all-time high of $4361.58/t in July of 1977 and a record low of $211/t in July of 1965.
 
Coffee decreased 3.10c per pound or 2.39% to 126.50c/lb yesterday from 129.60c/lb in the previous trading session, tradingeconomics.com reported. Historically, coffee reached an all-time high of 339.86c/lb in April of 1977 and a record low of 42.50c/lb in October of 2001.
 
 

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