Copper, nickel up 1%

COPPER continued to gain ground on positive global growth forecasts for 2018.

Copper, nickel up 1% Copper, nickel up 1% Copper, nickel up 1% Copper, nickel up 1% Copper, nickel up 1%

The red metal rose by another 1% to US$6761 per tonne, and is up by 3.8% since it hit a two-month low on December 5.

Nickel was also up by 1%, while aluminium jumped by 2.2%.

Zinc rose by 1.1%, while lead was down by 1.6%.

Yesterday, the International Lead Zinc Study Group released data for the first 10 months of the year, finding that zinc was in deficit by 401,000 tonnes with total reported inventories declining by 282,000t over the period.

World zinc production rose by 3.8%, but global output of refined zinc dropped by 0.6%.

Lead was in surplus by 173,000t over the same period, with mine production and demand rising.

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