LIVE FUTURES REPORT 25/06: LME base metals pressured by trade tensions; nickel finds support

Base metals on the London Metal Exchange ended mostly lower at the close of trading on Tuesday June 26, weakened by volatile trade relations between the United States and other major economies.

“In terms of today's action, we are down once again in the metals space, as the sector typically lands squarely in the middle of any US/Chinese trade spat, real or imagined,” INTL FCStone analyst Edward Meir said.

“Both copper and aluminium are now at two-month lows. Zinc has also been struggling of late as well and is now at its lowest level since last August. Lead and nickel are holding up better, but we suspect they too will eventually be drawn down with the rest of the group if the selling continues,” he added.

Zinc was the most affected, with prices falling 0.6% during afternoon trading, hampered...


Hassan Butt

June 26, 2018

18:01 GMT