nickel zinc surge as industry heavyweights meet
Last Updated : GMT 07:25:12
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 07:25:12
Arab Today, arab today

Nickel, zinc surge as industry heavyweights meet

Arab Today, arab today

Arab Today, arab today Nickel, zinc surge as industry heavyweights meet

Nickel, zinc surge as industry heavyweights meet
London - Arab Today

Nickel and zinc struck major peaks this week on expectations of keen demand for both industrial metals, analysts said.

The pair were also catapulted higher as industry bigwigs descended on the British capital for London Metal Exchange (LME) Week, an annual sector event that finished on Friday.

"It is base metals primarily in the spotlight this week as the industry has gathered in London for LME Week," noted UniCredit analysts in a research note to clients.

"Generally, sentiment has been fairly upbeat, but nickel has stolen the show as much of the focus has been on the metal as a key component for electric-vehicle batteries.

"There are expectations for strong growth from this sector in the coming years and amid the hype, nickel has this week rallied to levels not seen since June 2015."

They added: "For now, nickel seems to be pulling some of the other base metals higher with it."

Nickel hammered a path on Wednesday to $13,030 per tonne -- the highest level since June 2015, before it encountered profit taking.

Zinc meanwhile touched its highest level in more than a decade on the same day, aided by tight global supplies.

The metal scooted all the way to $3,326 per tonne, attaining its best point since August 2007.

UniCredit analysts cautioned however that there was a "danger" that prices were running ahead of a pick-up in consumption for base metals.

Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

nickel zinc surge as industry heavyweights meet nickel zinc surge as industry heavyweights meet

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

nickel zinc surge as industry heavyweights meet nickel zinc surge as industry heavyweights meet

 



Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today For the Variety of Interior Design Styles

GMT 11:14 2017 Tuesday ,19 December

For the Variety of Interior Design Styles

GMT 14:57 2018 Wednesday ,05 December

Entertainer Kevin Hart to host 90th Academy Awards

GMT 19:26 2018 Sunday ,25 November

Aleppo attack aimed at disrupting settlement in Syria

GMT 02:25 2017 Sunday ,01 October

January21st-February19th

GMT 15:31 2018 Wednesday ,10 October

Putin to receive credentials from 23 new ambassadors

GMT 14:28 2018 Wednesday ,24 October

Juventus too good for Man Utd on Ronaldo’s return

GMT 15:46 2018 Wednesday ,12 December

Festive Fashion by Dubai-based designer ASMARAÏA

GMT 15:57 2018 Saturday ,27 October

Five Palestinian Killed in Gaza, West Bank by IOF

GMT 20:52 2017 Thursday ,30 March

Donia Abdel Aziz creates new account on "Instagram"

GMT 12:13 2018 Tuesday ,11 December

Arab League urges Bolsonaro to reconsider embassy move

GMT 02:52 2018 Wednesday ,17 January

Iran should listen to demands
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday