Base metals prices on the London Metal Exchange consolidated during morning trading on Wednesday April 10, with most metals trading in narrow ranges and buying appetite in Europe subdued.
Volumes traded have been thin this morning. The most-traded metal is copper with just over 4,000 lots changing hands as of 9:30am London time. The three-month copper price is trading just below $6,480 per tonne despite spending much of Tuesday above $6,500 per tonne. Its cash/three-month spread is in a contango of around $10.50 per tonne. Buying momentum continues to wane in Europe amid fresh concerns of US-imposed tariffs on around $11 billion worth of European goods, with the bloc's declining auto industry a focal point...