LIVE FUTURES REPORT 04/04: LME base metals close lower, led by nickel

Base metals prices on the London Metal Exchange dropped throughout the day on Wednesday April 4, with sentiment remaining low after US-China trade tensions escalated.

The majority of the complex ended the LME kerb session lower, with only aluminium posting a slight increase of 0.6%.    

LME copper prices have been volatile, trading within a $200 per tonne window but cutting losses toward the close to end above $6,700 per tonne, underpinned by firm demand in Asia and news of a value-added tax (VAT) cut on all imported goods in China.

China will cut VAT on all imported goods by one percentage point effective May 1, the Finance Ministry and State Administration of Taxation said in a filing late on Wednesday April 4. This will take the VAT for most products to 16% from...


Hassan Butt

April 04, 2018

17:55 GMT