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Copper and nickel fall on profit-taking
Copper and nickel prices fell on Thursday as investors locked in profits, extending a retreat from their recent sharp rally. Benchmark three-month copper on the London Metal Exchange fell 0.3% to $12,853 per metric ton by 1106 GMT. Copper hit a record high of $13,387.50 on Tuesday with concerns over tight mine supply and bets on future demand growth. “The continued mirroring moves with precious metals suggest this is primarily profit-taking and position clean-up, rather than a major shift in the underlying trend,” analysts at Sucden Financial said in a note. Growth in the artificial intelligence and defence ... (full story)
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