The prices of base metals traded on the London Metal Exchange were mostly higher during morning trading on Thursday September 6, spurred by a bout of fresh buying amid a weaker dollar and progress in US-Canadian trade talks.
Appreciating by more than 1% over the morning, copper's three-month price recovered losses made at Wednesday's close, climbing back toward $6,000 per tonne while total on-warrant material remains at its lowest level since December 2017 at 146,600 tonnes. Similarly, aluminium's three-month price inched higher over the morning against a depleting on-warrant stock count of 766,275 tonnes, the lowest level in over 10 years."The price action yesterday felt like some short-term exhaustion of the recent bearish sentiment but it won't take much to get that back in play, especially with Trump in the firing line internally, at such a key time with regard to expected trade tariff announcements," Marex Spectron's head of institutional sales for metals, Matt France, said in a morning report. While trade tensions continue to limit commodity investment, the recent trade talks regarding the North America Free...