LIVE FUTURES REPORT 29/11: LME base metals make price gains on rise in oil futures

Base metal prices on the London Metal Exchange made gains on Thursday November 29, following a rise in crude oil futures, but market sentiment remained uncertain with commodities facing macro-economic headwinds.

Brent crude oil prices were firmer in afternoon trading, up by $1.80 to $60.16 per barrel. The recent low was $58.38 per bbl.
For base metals, nickel was the highlight, with the three-month contract price going up by 2.36% to close at $11,055 per tonne.
The price of copper firmed by $12 per tonne, while aluminium rose by $8 per tonne.

Aluminium, lead and nickel were all trading close to lows set in 2017. Price increases for base metals continue to be capped by macroeconomic...

Published

Ying Shao

November 29, 2018

18:15 GMT

London