MARKET TALK: LME Base Metals Fall On Speculative Selling

Speculative selling and long liquidation pressures the entire base metals complex Thursday, says an LME trader. Adds that an increase in nickel stocks by 534 tons to 3654 tons Thursday morning also weighs on nickel prices. "Since zinc and copper have already taken big price hits recently, the market is cautious about nickel which could drop a bit lower," trader notes. Nickel trades at $35,400 a metric ton, down 1.4% from Wednesday.