Industrial metals fall hit by firmer dollar, equities sell-off
- Asian shares slid, while the safe-haven dollar rallied as a sudden sell-off on Wall Street and delays with coronavirus vaccines.
HANOI: Base metals fell on Thursday, weighed by a broader sell-off in global equities and as a stronger dollar made greenback-priced metals more expensive for holders of other currencies.
Three-month nickel on the London Metal Exchange fell 1.1% to $17,715 a tonne at 0310 GMT, lead declined 0.9% at $2,027.50 a tonne, aluminium shed 0.4% at $1,984.50 a tonne and copper was almost flat at $7,824 a tonne.
The most-traded March copper contract on the Shanghai Futures Exchange dropped 1.6% to 57,890 yuan ($8,930.06) a tonne, nickel declined 2.1% at 131,180 yuan a tonne and zinc lost 2.1% at 19,445 yuan a tonne.
Asian shares slid, while the safe-haven dollar rallied as a sudden sell-off on Wall Street and delays with coronavirus vaccines shook investor optimism about an early recovery for the global economy.
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