LIVE FUTURES REPORT 30/10: LME base metals prices suppressed by sell-off; nickel down 2%

London Metal Exchange three-month base metals prices were mostly trading down in the morning session on Friday October 30 with the complex subject to selling pressure amid the uncertainty over further Covid-19 lockdowns.

“We are expecting LME base metals prices to run into further selling in the short term. The upward momentum seen in early October has run its course and is beginning to give way to fresh selling pressure, with the market starting to price-in the negative effects of further lockdowns in European cities and growing uncertainty over the US presidential election,” Fastmarkets research analyst Andy Farida said. But while LME base metals futures were broadly trading down from the previous day’s afternoon kerb close, the short-term price prognosis...

Published

Amy Hinton

October 30, 2020

10:38 GMT

London