MARKET TALK: LME Nickel Selloff May Corrode Base Metals

The selloff in LME nickel may start to corrode copper, tin and lead, which have so far been relatively resilient, says a London trader. "It's inevitable we'll see the contagion spread to the other base metals, but ultimately the markets are moving in line with their own fundamentals instead of as a pack," he notes. LME nickel is -6% from Tuesday's high, at $44,000 a metric ton, while copper -2% and tin and lead are unchanged.