LIVE FUTURES REPORT 29/04: LME base metals prices continue sideways trading

London Metal Exchange three-month prices traded sideways for the second consecutive day on Wednesday April 29, with LME futures finding their footing at relatively low levels amid month-end book squaring and Asian countries preparing to come out of the market for a series of public holidays starting tomorrow.

“This morning Asian equities markets are quiet and winding down before public holidays in the region begin, so investors are staying back from trading,” Kingdom Futures chief executive officer Malcolm Freeman said in a morning note. “Equally, most of Europe will be shut for public holidays on Monday 4 while the United Kingdom will be shut on Friday May 8, not that anyone in Europe or the UK will be doing much and in many cases may not even notice the difference due to lockdown conditions.” Freeman said. Usual stimulating factors including the US dollar index and oil futures failed to influence the complex this morning. The US dollar index,...

Published

Amy Hinton

April 29, 2020

09:35 GMT

London