LIVE FUTURES REPORT 07/04: LME base metals prices higher on virus optimism; tin up 3.8%

Three-month base metals prices on the London Metal Exchange were trading in positive territory at the close on Tuesday April 7, bolstered by reports that daily-reported Covid-19 cases were abating, giving rise to a spate of short-covering.

Other market participants attributed today’s gains to a risk-off rally induced by China’s gradual return to market amid a fresh slew of supply disruptions to key global mines and smelters, which may lead to more short-term metals demand. “The overall feel is that there is some bearish exhaustion across the LME base metals complex and market participants are mindful not to push too hard to the downside,” Fastmarkets research analyst Andy Farida said....


Amy Hinton

April 07, 2020

16:26 GMT