LIVE FUTURES REPORT 10/12: LME base metals static; weak Chinese data caps upward movement

Base metals prices on the London Metal Exchange were little changed during morning trading on Monday December 10, with the market muted by weak Chinese data.

“Market uncertainty is set to continue with the US admin looking to distance itself from the Huawei arrest as it pursues trade talks,” Marex Spectron’s morning note said.

“And the latest Chinese data highlights that world economies and particularly the onshore markets were already seeing slowing growth before these hostilities commenced,” the note added.

China’s import growth hit a two-year low of 3.0% in October, according to data released on Saturday December 8, indicating weakening domestic demand.

Meanwhile, China’s October Producer Price Index (PPI) also confirmed a weakening domestic economy, coming in...


Alice Mason

December 10, 2018

10:49 GMT