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...