Tough night for metals, News Wrap

IT WAS a tough night for base metals as copper and lead both tumbled.

Tough night for metals, News Wrap Tough night for metals, News Wrap Tough night for metals, News Wrap Tough night for metals, News Wrap Tough night for metals, News Wrap
 
Three-month lead lost 1.55% to US$2348, while the red metal lost 1.12% to $6808 and nickel eased 0.52%, with the suite of metals giving up considerable gains made earlier in the week.
 
The loss for copper follows LME stocks falling more than 10% this month, although the technical show consolidation around $6800/t.
 
The nickel price still managed to crack its $14,500 per tonne resistance level on Monday to reach a high of $14,660 before closing at $14,425, suggesting building demand.
 
Tin also lost 0.36%, while cobalt has also eased in recent trades to a still healthy $90,750, and is likely to fall further.
 
Bucking the trend were zinc, up 0.31% ...

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