Copper, nickel up on halt in Arctic shipments

Precious metals prices were up on the session, with gold $3 higher to $672 per troy ounce. Platinum was up $13 to $2,330 per troy ounce as platinum traders convened in London to discuss contracts with produers and consumers.

Among base metals, three-month copper added $149 to $7,780 per tonne. Chile’s copper exports were up 20 percent in April to $3.282 billion. Nickel, meanwhile, added $1,800, a gain of over 3 percent on the London Metal Exchange. The gains came after Norilsk Nickel (RTS: NKEL; OTC: NILSY) said it has halted loading of nickel, copper, and cobalt for export from its Arctic port and will not resume shipments until mid-June, after seasonal flooding recedes.