Base metals extend record-breaking run

Base metals, which have been setting record prices this year, extended their record-breaking run On Fridaywith nickel touching a new high.

The three-month nickel price hit a record of $34,850 a tonne on the London Metal Exchange, before easing to $34,600 late in the session - a gain of $1,350 or four per cent.

Nickel prices have risen 150 per cent this year as global inventories have fallen to critically low levels.

Three-month LME copper prices gained $40 to $6,755 a tonne, and aluminium reached a seven-month high of $2,874 a tonne, before easing to $2,860, a rise of $35 on the day.