Base metals prices on the London Metal Exchange edged higher across the board during morning trading on Wednesday May 12, after dipping earlier this week due to increasing concerns of inflation.
"Industrial metals remained in risk-on mode, along with rising inflation expectations as 1 year breakeven inflation climbed further to just shy of 3%," Warren Patterson, Head of Commodities Strategy at ING, said this morning. Despite choppier prices and rising inflation anxiety, the three-month copper price rose by over 1% this morning to $10,565 per tonne. This is up from $10,460 per tonne at Tuesday's 5pm close, after...