LIVE FUTURES REPORT 21/01: Base metals have mixed morning after Chinese data release

Base metals on the London Metal Exchange complex consolidated in mixed morning trading on Monday 21 January, while market focus shifted to China’s fourth-quarter data release.

China’s fourth-quarter GDP data was in line with expectations at 6.4%, down 0.1% from its previous recorded figure at 6.5%. ‘’These numbers are basically in line with expectations, which were not optimistic,’’ John Browning of BANDS financial said. Both the LME nickel and copper three-month price moved down in morning trading, after experiencing an uptick last week on the strength of an increased demand forecast from China and optimism over US-China trade negotiations. Nickel’s LME three-month price was down $85 to $11,735 per tonne while the three-month copper price was down $43.50 to $6,008.50 per tonne, representing two of the biggest moves in the complex. Tin consolidated down to...

Published

Amy Hinton

January 21, 2019

10:40 GMT

London