Base metals prices on the Shanghai Futures Exchange were mostly up during morning trading on Monday July 8 after the release of better-than-expected US non-farm payroll numbers last week and amid anticipation that the US Federal Reserve will cut interest rates.
The non-farm payrolls release last Friday showed that 162,000 jobs were added to the US economy in June after an increase of 75,000 jobs in the prior month. "This was the strongest non-farm payrolls print since January this year and suggests the US economy still has firm footing," according to a morning note from ANZ Research. "On the macro front, despite the fact that...