27.07.2016 - Nickel Leads Metals Lower on Demand Concerns as Oil Retreats
Nickel and zinc fell to one-week lows as weaker oil prices heightened concerns over the health of the global economy. Oil closed at the lowest since April in New York amid speculation that fuel stockpiles increased in the U.S., the world’s biggest fuel-consuming nation. Weaker oil prices cut mining costs and reduce the price floor for metal production. Metals also retreated as investors took profits after prices of some metals reached multi-month highs, according to Commerzbank AG. The decline in most industrial metals comes a day before the Federal Reserve announces its latest policy-making statement...............................................Full Article: Source
Print