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Aluminum slid and nickel pared earlier gains after a package of US sanctions omitted any major curbs on Russian industrial metals.
Nickel, which had steadily gained this week in anticipation of the sanctions news, pared an earlier advance of as much as 1.2% to trade just 0.3% higher. Aluminum retreated as much as 1.1% on Friday. “Now the focus moves back to demand side woes including the challenging macro backdrop in China and higher borrowing costs and the uncertain path of US Fed’s easing cycle. We believe global economic uncertainty will continue to weigh on the outlook for aluminium.”
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