LIVE FUTURES REPORT 19/03: LME base metals lack clear direction; copper pressured by easing supply concerns

Base metals prices on the London Metal Exchange were mostly lower at the close on Monday March 19, while most prices lacked clear direction before Wednesday’s Federal Open Market Committee (FOMC) meeting.

Nickel prices declined $145 per tonne – the metal has come under sustained pressure since it hit $14,000 per tonne last week and cannot find new support. “The combination of a strong dollar index in the run up to Wednesday's FOMC meeting and a relatively poor macroeconomic backdrop has left the base metals complex under selling pressure at the start of the new trading week,” Andy Farida, Metal Bulletin analyst. Lead prices were $16 per tonne lower while sister metal zinc was just $1 higher at $3,261 per tonne after both metals...


Alice Mason

March 19, 2018

17:45 GMT