LIVE FUTURES REPORT 14/07: Lackluster China data, US equities sell-off halts upward momentum in LME base metals

London Metal Exchange three-month base metals prices all closed down on Tuesday July 14 after a sell-off across US equities and weaker than expected Chinese data put a block on any upward price momentum.

China trade balance data released earlier today was 329 billion for June against a forecast of 410 billion for the period and down from 443 billion in May.
And US-China sentiment has become even more negative with the United States and the United Kingdom both placing restrictions on Chinese tech giant Huawei’s 5G internet technology in both regions.

Fresh Covid-19 concerns, meanwhile, led to a sell-off in US equities to complete the negative macro-economic backdrop.


Amy Hinton

July 14, 2020

19:02 GMT