Pushing back over the $14,000 per tonne level, nickel’s three-month price reached a high of $14,410 per tonne over the morning period, climbing 3.6% from Wednesday’s closing price.
Copper prices equally staged a modest rebound, climbing 0.7% over the morning, despite continuing to trade at levels not seen since June 2017.
Pressured by a surprise announcement on Wednesday morning that the US plans to issue further tariffs on approximately $200 billion worth of Chinese goods, global commodities have taken a downturn. The LME base metals index fell 2.5% as a result.
“Despite warnings from...