LIVE FUTURES REPORT 10/03: LME base metals stage partial rebound on waning virus concerns in China

Three-month prices of base metals trading on the London Metal Exchange rebounded at the close on Tuesday March 10 due to suggestions that the worst of the novel coronavirus (2019-nCoV) in China may be over.

“Although the start of the new trading week was all out bearish, bargain-hunting activity prevails today and LME base metals look to be paring losses,” Fastmarkets research analyst Andy Farida said. “We saw some healthy follow-through buying this morning as global investors took a positive view that China’s Hubei is moving slowly out of a complete lockdown. Another report from Chinese state media stated that all temporary coronavirus hospitals in Wuhan are now shut.” The Dow Jones index plummeted by 2,000 points yesterday - the most since the 2008 financial crash...


Amy Hinton

March 10, 2020

17:36 GMT