Base metals on the London Metal Exchange were mostly lower during morning trading on Monday June 11, with copper and nickel prices decreasing while lead was the only metal to trade higher.
"Metals prices are largely stagnant as the new week gets underway, ignoring the bombshell that ended the G7 summit at the weekend. After leaving the meeting early, US president Donald Trump later revoked the joint statement that had already been signed by all participating states," Commerzbank Research said in a morning note. "If a trade war indeed erupts, base metals are also unlikely to be able to continue resisting the associated uncertainty and risk aversion among market participants," it added.Falling below the $7,300-per-tonne mark, copper's three-month price reached a low of $7,215 per tonne during morning trading amid supply-related disruptions. Unresolved...