BASE METAL WRAP: Nickel rallied to a two-year high, exceeding $20,000, as a plant closure in New Caledonia by Vale (VALE5) SA, the second-biggest producer, fueled global supply concerns already exacerbated by Indonesia’s ore-export ban.
ENERGY WRAP: West Texas Intermediate headed for its first weekly advance since April as crude stockpiles shrank for the first time in more than a month in the U.S., the world’s biggest oil consumer. Brent was steady in London. Natural gas futures fell the most in 10 weeks after a government report showed a bigger-than-forecast U.S. inventory increase.
PRECIOUS METAL WRAP: Gold futures declined for a third straight day as gains in equities curb demand for the precious metal as an alternative investment.
GLOBAL EVENTS TO WATCH: RBA Monetary Policy Statement, CPI y/y, Manufacturing Production m/m, Employment Change, Unemployment Rate, JOLTS Job Openings, Wholesale Inventories m/m.
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