LIVE FUTURES REPORT 04/07: Low turnover caps range-bound LME base metals prices

Base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday July 4, with price movements largely subdued by a national holiday in the United States while volumes traded were markedly lower.

Over the afternoon, tin’s three-month price continued its ascent back above $18,000 per tonne, climbing by more than 4% to close at $18,350 per tonne. The metal was subject to its sharpest sell-off since 2011, when the EU sovereign debt crisis prompted investors to reduce risk exposure to base metals and commodity investment, leading to a 10% drop in tin prices and 6% in copper on September 22 of that year. Just over 200 lots of tin were exchanged by the close on July 4, much lower than the 600 lots exchanged on Wednesday, and only a fraction compared with...

Published

Hassan Butt

July 04, 2019

18:42 GMT

London