Three-month base metals prices on the London Metal Exchange, with the exception of aluminium, closed down in the afternoon session on Monday March 9 while problems arising from the 2019-CoV coronavirus continued to weigh on global economies and demand for commodities.
"There was no shortage of negative developments over the weekend while recently-affected economies took drastic measures to limit the spread of... coronavirus. Like it or not, this is now a global problem, with vast economic and social damage," Fastmarkets research analyst Andy Farida said."Given the deteriorating outlook, global companies are slashing their profit guidance, opting to freeze [hiring activity] and cut projects that require large capital investment," he added."While China restarts its...