Nickel, aluminium down despite inventory declines

Base metals prices were mixed on the day, with copper and zinc higher but nickel and aluminium both seeing declines. Copper added 0.1 percent to $7,440 per tonne on strike worries and output disruptions in Chile. Zinc was up 1.2 percent to $3,197 per tonne.

Meanwhile, nickel was 1.4 percent lower to $24,300 per tonne even though London Metal Exchange stockpiles dropped by another 372 tonnes, as Japan said it will sell 1,273 tonnes out of its strategic stockpiles. Aluminium was 2.2 percent lower to $2,475 per tonne, again in spite of a decline in LME stockpiles, which were down by 6,100 tonnes.

Gold was slightly lower to $6.18.40 per troy ounce. Silver, platinum, and palladium also stayed near their previous prices.