Nickel price drops

Copper fell in New York and London as the dollar strengthened, reducing demand for commodities as an alternative investment.

“The complex, with the exception of aluminum and nickel, ended the week in overbought territory, as indicated by their daily relative strength indices,” Hussein Allidina, head of commodities research at Morgan Stanley in New York, said in a report today. “We remain positive toward the sector, although” prices may fall for now, the bank said.

Click here for the full story.