The base metal prices on the London Metal Exchange (LME) mostly rose on Thursday, with nickel price-rise hit five-week high amid supply concerns.
Nickel headed for the biggest two-day gain in five weeks after a mine in Papua New Guinea suspended operations, heightening concern that supply will trail demand.
The three-month unofficial nickel price increased 262.5 U.S. dollars, or 1.40 percent, to 19037.5 U.S. dollars a tonne. Warehouse inventories increased by 240 tonnes, bringing LME stocks to 318,114 tonnes.
The copper prices steadied after the U.S. dollars fell. The three-month unofficial copper price increased 31 U.S. dollars, or 0.44 percent, to 7,007 U.S. dollars per tonne. Warehouse inventories decreased by 650 tonnes, bringing LME stocks to 143,700 tonnes.
Besides, the three-month unofficial aluminium price increased 5 U.S. dollars, or 0.25 percent, to 2,025 U.S. dollars a tonne. The three-month unofficial lead price increased 28 U.S. dollars, or 1.25 percent, to 2,263 U.S. dollars a tonne.
By contrast, the three-month unofficial zinc price lost 23 U.S. dollars, or 0.98 percent, to 2,333 U.S. dollars a tonne. The three-month unofficial tin price lost 50 U.S. dollars, or 0.22 percent, to 22,325 U.S. dollars a tonne.