LIVE FUTURES REPORT 27/10: LME base metals trade sideways in lead-up to US election

Three-month base metals prices on the London Metal Exchange lacked a clear direction at the close of trading on Tuesday October 27, with a weaker US dollar and a slew of positive data from the region failing to outweigh the uncertainty about the country’s presidential election on November 3.

Some analysts suggested that the market was merely “holding up” in the interim before the much-anticipated poll, which many market participants expect will set a course for LME base metals futures. But on Tuesday the base-metals complex remained directionless, with traded volumes slim amid pervading uncertainty over whether incumbent Donald Trump or his main opponent, Joe Biden, will win. The chance of a win by any other candidate from smaller parties is generally dismissed. Durable goods orders in the region were better than expected month-on-month,...

Published

Amy Hinton

October 27, 2020

18:30 GMT

London