LIVE FUTURES REPORT 12/03: LME base metals dip after unexpected Friday rally

Base metals prices on the London Metal Exchange dipped slightly during morning trading on Monday March 12 while looking to consolidate Friday’s rally.

The three-month copper price was down 1% recently below $6,900 per tonne following a 10,000-tonne delivery into LME-listed warehouses in New Orleans. “The extent of Friday's rally caught the market unawares and so the current correction is healthy but it remains to be seen if Friday's move was just panic buying ahead of the weekend as shorts scrambled to cover or the start of a basing out process,” Matt France at Marex Spectron said. Aluminium, zinc and lead were all lower but held onto most of the gains made on Friday. “Aluminium...


Alice Mason

March 12, 2018

10:53 GMT