LME three-month base metals prices were broadly trading down in the morning session on Wednesday March 11 while the complex oscillates between positive news from China and more precautionary economic measures taken in other regions to quell the impact of novel coronavirus (2019-nCoV).
In the United Kingdom, the Bank of England cut interest rates by 0.5% to its lowest-ever rate of 0.25% - the latest global monetary easing measure taken outside of China to combat the potential adverse economic impact of the virus. "The markets look to be entering into a phase of how to react to conflicting domestic news and place it in the context of the global picture," Kingdom Futures chief executive Malcolm Freeman said in a morning note.News from China indicates that the government there considers the virus to be under control, with president Xi Jinping making a symbolic visit to Wuhan, where the virus was first identified on the...