Base metals contracts on LME fell today due to a firm dollar and rise in inventories at LME warehouses. The three-month nickel contract was down 1.0% at $9,690 per tn and zinc was down 0.4% at $2,782 per tn.A strong greenback makes dollar-denominated base metals costlier for holders of other currencies and reduces the demand for the metals. Base metal contracts also came under pressure after zinc and nickel stocks at LME warehouses rose on Tuesday after declining in the last few weeks.
Source : Newswire
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