Base metals mixed: copper weaker - ANZ

Analysts at ANZ explained that base metals were mixed, with nickel the big loser amid signs of weak demand.

Key Quotes:

"China Special Steel Association suggested that China’s stainless steel output would fall 5% in 2017 due to government forced closures on environmental grounds.

However copper was weaker as the stronger USD kept investor appetite low.

Mixed economic data also didn’t help. Factory output in the US fell 0.4% in May, after rising 1.1% the previous month."