Base metals prices on the London Metal Exchange were lower across the board during morning trading on Tuesday February 6 on further profit-taking.
"Given the LME's apparent love of sell-off Tuesdays the markets could be in for a very bumpy ride today," Malcolm Freeman of Kingdom Futures said. The three-month copper price retreated by $55.50 this morning but remains above $7,100 per tonne. "Copper led the way lower by virtue of the already open Comex copper contract and this in turn set the relative opening levels for the rest of the LME complex... the sentiment is clearly negative given the macro backdrop," an analyst at Marex Spectron said. The nickel price dropped $330 this morning, removing all...