The London Metal Exchange base metals complex closed up by 1.2% from the previous day's kerb on Tuesday November 3, buoyed by bullish expectations arising from the same day's United States presidential election.
Conversely, the US dollar index was trading down by 0.64% around 93.40 during the afternoon session, in anticipation of the poll result, providing a significant tailwind for LME three-month base metals prices over the period."Even though the base metals complex is exuberantly bullish and has had limited pullback, the market appears calm and has shown little fear going into tonight's [election] result. We wonder if this confidence is going to last this week or if this...