Ebene Magazine – Industrial metals drop below a firmer dollar, stocks sell

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HANOI: Base metals fell Thursday, hurt by a wider sell-off in global stocks, and as a stronger dollar made metals more expensive at greenback prices for holders of other currencies.

The three-month nickel on the London Metal Exchange fell 1 .1% to $ 17,715 per tonne at 0310 GMT, lead decreased 0.9% to $ 2,027.50 per tonne, aluminum mining was 0.4% to $ 1,984.50 per tonne, and copper was down at $ 7,824 per ton almost unchanged.

The most traded copper contract on the Shanghai Futures Exchange in March fell 1.6% to 57,890 yuan ($ 8,930.06) per ton, while nickel was down 2.1% to 131,180 yuan per ton Ton back and zinc shed 2.1% to 19,445 yuan a ton.

Asian stocks fell as the safe haven dollar rose as a sudden sell-off on Wall Street and delays in coronavirus vaccines raised investor optimism about it an imminent recovery in the global economy.

Ref: https://www.brecorder.com

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