Metals mainly down

IRON ore and coking coal were exceptions as metal prices came under pressure and stocks on Wall Street ended up having a better session.

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The Metal Bulletin iron ore price rose nearly 2% to more than US$73 per tonne, while nickel and zinc both lost around 2.5%.

Copper lost about 1.3% to remain just above $7000 per tonne, with gold down too as US equities closed in positive territory after another volatile trading day.

Miners though were equities not in demand, with BHP losing more than 2.6% in London as Rio softened about 1.35% and Glencore dropped 2.3%.

Gold stocks in Toronto were also given the selling treatment, with Barrick Gold’s fall of just over 1% comparing well to many in the patch who suffered falls of 3-4%.

Conversely, diversified names like Teck Resources and First Quantum Resources enjoyed gain...

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