Base metals prices on the London Metal Exchange showed mixed directions at the 5pm close of trading on Thursday July 8, with copper and aluminium down on a slowing Chinese economy and talks of tapering from the United States.
"The takeaway from last night's FOMC [meeting] appears to be that this month... should see the ramping-up of more formal talks on tapering, with the line that the conditions for tapering are likely to be met sooner than had been expected," Alastair Munro, LME desk analyst at financial services supplier Marex said on Thursday.The Federal Open Market Committee (FOMC) is the US Federal Reserve Bank's group which oversees the nation's open-market operations. It holds eight scheduled meetings each year...