MORNING VIEW: LME base metals prices down across the board in early trading

Base metals prices on the London Metal Exchange were weaker on the morning of Thursday August 26, although for the most part they seem to be consolidating after recent volatility.

Asian-Pacific equity indices mainly weaker this morning while broader markets focus on Friday’s United States Federal Reserve Jackson Hole symposium More companies report that supply shortages are affecting their ability to produce - what will this lead to? Base metals LME three-month base metal prices were down across the board by an average of 0.6% this morning, led by 1% declines in both lead ($2,288 per tonne) and tin ($32,675 per tonne), while copper was off by 0.5% at $9,302.50 per tonne. The pullbacks look like consolidation after the recent volatility while the market braces for what US Federal Reserve chairman Jerome Powell might say about the timing of tapering on Friday. The most-active base metals contracts on the Shanghai Futures...


William Adams

August 26, 2021

08:00 GMT