LIVE FUTURES REPORT 10/04: LME base metals soften amid global growth jitters; lead price drifts to $1,950/t

Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Wednesday April 10, with three-month lead prices down by 1.5% while zinc was the only metal trading in positive territory.

Volumes were thin over the day’s trading, with copper’s 12,735 lots topping the complex by the close, while a marginal uptick in the dollar index back above the psychologically significant level of 97 deterred commodity investment. Similarly having a negative impact on commodity buying, the International Monetary Fund (IMF) revised its global economic growth expectations to 3.3% for 2019 and 3.6% for 2020, a 0.2 percentage point downgrade from the previous forecasts. Closing at $1,953 per tonne, the three-month lead price continues to trade in a downtrend despite a continued draw on LME supply. On-warrant material is...

Published

Hassan Butt

April 10, 2019

18:15 GMT

London