LIVE FUTURES REPORT 11/04: LME base metals prices subdued amid trade uncertainty; aluminium price shrugs off 24,800t fresh cancelation

Base metals prices on the London Metal Exchange were mostly lower during morning trading on Thursday April 11, with copper futures edging back to a low of $6,429.50 per tonne, while a fresh cancelation of just under 25,000 tonnes of aluminium did little to move the metal’s stagnant price.

The three-month copper price has continued to surrender gains above $6,500 per tonne from earlier this week, falling from $6,462 per tonne at Wednesday’s close. Volumes traded over the morning were moderately low, with copper’s 4,401 lots topping the complex as of 9:37am London time. Just 25 lots of tin have traded this morning. Weaker investor sentiment across Europe continues to trickle through to commodity purchasing, with US President Donald Trump threatening to apply $11 billion worth of tariffs on goods from the European Union. Grounded in an ongoing aircraft dispute, tensions between the United States and the European bloc escalated this week, with the EU allegedly accused of providing subsidies...


Hassan Butt

April 11, 2019

10:24 GMT