The base metals complex delivered poor performance on the LME on Wednesday.
Deepening concerns with respect to Euro Zone debt crisis coupled with weak sentiments in the global markets exerted downside pressure on metal prices yesterday.
Additionally, strength in the US dollar also acted as a negative factor for base metals on Wednesday.
Nickel
Nickel was the worst performer on Wednesday, as the metal declined sharply by 2.6 percent on the LME and around 2.2 percent on the MCX.
Prices declined mainly taking cues from a stronger dollar and weak market sentiments yesterday.
Nickel touched an intra-day low of $17,005/tonne and ended its trading session at $17,205/tonne on Wednesday.
Courtesy: Angel Commodities
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