Rolling LME/SHFE price report 03/07: Base metals prices down in kerb trading; tin backs tighten

Welcome to the rolling base metals price report, tracking the Shanghai Futures Exchange and London Metal Exchange markets on Friday July 3. This article will be updated throughout the day with the latest on prices, comments, economic data and analysis.

17:18 BST update Sucden Financial had this to say in its evening note on the day's activities: "Overnight, Chinese equity markets fell further, and copper continued to flirt with the $5,800 area but generally LME prices were a little softer. Economic data releases were mostly services PMI related. UK services PMI for June rose to 58.50 and the eurozone was 54.4. Also from the eurozone, retail sales rose 0.2% in May month-on-month, led by Germany and Spain. "Prices on the LME continued to head south during the London [afternoon] sessions in sympathy with oil and equities as dealers cleared the decks ahead of the weekend and the Greek referendum... Monday could be a defining moment." LME closing update Base metals prices were down across the board during kerb trading on Friday, and nickel and tin prices were once again the biggest losers, down $200 and $100 respectively. Backwardations also tightened, moving to $18 on...

Published

Claire Hack

Ellie Wang

July 03, 2015

17:18 GMT

London, Shanghai