Base metals prices supported by better than expected Chinese PMI data Although the light metal price action is still trading within the descending wedge-like pattern,...
LME three-month base metals prices started this week a tad stronger. The positive sentiment in the complex was supported by a better than expected Chinese manufacturing PMIs, both of which beat expectations in September and rose from the August level. The official PMI nudged up to 49.8 while the Caixin PMI rose to 51.4.
Speculative funds positioned themselves for a positive turnaround
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