Base metals prices on the London Metal Exchange were lower across the board during morning trading on Wednesday March 7 - with nickel diving 1.6%.
The three-month nickel price is continuing to have another rollercoaster month - it gained $260 per tonne at the close on Tuesday but is now trading $275 lower. "The new threat of trade wars and regional tariffs seems to have [unnerved] consumers in the short term which in effect leads us to a situation where various forms of speculative buying has taken place on the expectation of new demand that has yet to materialize," Malcolm Freeman of Kingdom Futures said. "The net result of this could well be another sharp correction to the downside in prices until the markets get into synchronisation and consumer buying starts up again," he added. Copper prices did not stabilize above $7,000 per tonne for long and have fallen $69.50...