Base metals prices dropped further during kerb trading on the LME, with the exception of zinc, which remained flat against Friday's closing level. Tin prices were the major losers, dropping $335, followed by copper, down $55.50. Meanwhile, contangos for the soldering metal strengthened, moving out to a $40 contango on the cash-to-three-month spread, from $27 earlier in the day.
15:58 BST update
|5PM Evening evaluations
||Closing price ($/t)
||Change from prvs day ($)
Edward Meir, of INTL FCStone, had this to say in an afternoon note, on copper and aluminium's weak performances:
"Copper is at $6,136, down $25 and trading between $6,131 and $6,230. It seems we are heading to $6,040 next, which is where we see trend-line support emerging.
"Aluminium has completely...