Base metals prices looking vulnerable, several break through support

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were more down than up on the morning of Monday December 6; support has been broken on a number of the metals and is being tested on the others.

Germany factory orders were down 6.9% month on month in October; they had been expected to fall by 0.2%. Geopolitical tension rises over Russian/Ukraine and China/Taiwan. Friday’s US employment report likely to prompt the Federal Reserve to remain in a hawkish stance – all eyes on Friday’s US consumer price index data. Base metals The three-month prices on the LME were generally weaker this morning. The exceptions were lead that was up by 0.5% at $2,208 per tonne and copper that was up by 0.1% at $9,424 per tonne, while the rest were down by an average of 1.3%,...


William Adams

December 06, 2021

08:40 GMT