LIVE FUTURES REPORT 09/09: US equities plunge caps LME base metals

September 10, 2020 / www.metalbulletin.com / Article Link

Gains in London Metal Exchange three-month base metals prices were broadly capped during morning trading on Wednesday September 9 with futures prices failing to fully retrace gains after the previous day's plunge in US equities markets.

Most notably, stocks in high-profile electric vehicle (EV) maker Tesla plummeted by a significant 21% on Tuesday, while shockwaves continue to be felt across global commodities markets and consumer confidence nosedives.Nonetheless, LME base metals' three-month prices are recovering from the previous day's intraday lows despite most trading down this morning from yesterday's close. "Equity markets plunged [yesterday] but while they had a bad day, the metals all bounced back from their intraday lows and have held those levels so far today albeit in thin volumes so far," Kingdom Futures chief executive officer Malcolm Freeman said in...

Recent News

Gold stocks decline on flat metal and mixed equities

October 07, 2024 / www.canadianminingreport.com

Copper price expected to range from flat to slight gain in 2025

October 07, 2024 / www.canadianminingreport.com

China's gold holdings to central bank reserves still low

September 30, 2024 / www.canadianminingreport.com

China has broad effect on gold market

September 30, 2024 / www.canadianminingreport.com

Gold stocks mixed after previous week's huge gains

September 23, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok