LIVE FUTURES REPORT 20/07: Base metals still strong on the LME, lead up 1.8%, copper up 1.2%

Base metals prices on the London Metal Exchange performed well on Tuesday July 20, despite strong headwinds from rising coronavirus cases and a strong United States Dollar Index.

"The sell-off on Monday July 19 across the LME base metals complex was triggered by a set of negative macro dynamics, which spooked global investors," Fastmarkets analyst Andy Farida said.

"Risk sentiment turned very negative following the news that the US and its allies were accusing China of a global hacking spree. The macro backdrop was already tense and highly uncertain, with the Covid-19 Delta variant looking increasingly likely to derail a smooth global economic recovery in...


Imogen Dudman

July 20, 2021

16:31 GMT