Copper prices have been buoyed this week by news on supply worries, with looming strike action at Chilean copper mines. The metal’s highs were cured by news that Centinela mine in Chile has reached a deal.
Aluminium prices were little moved today after rallying nearly 12% at one point on Thursday on news of Chinese smelter cuts.
“The aluminium price rally also seems to have stalled for the moment as the thinking is that the recent run-up has perhaps more than discounted an as-of-yet undetermined quantity of cuts that will likely set in over the Chinese aluminium sector later this year,” noted Edward Meir of INTL FCStone.
Nickel was another standout performer today, closing...