Base metals traded on the London Metal Exchange were largely suppressed during morning trading on Wednesday June 12 amid fresh US-Sino trade tension, uninspiring Chinese economic data and a dive in the United States' equities market.
The increasing unlikelihood of a meeting between Chinese President Xi and United States President Donald Trump is the overwhelming factor renewing trade tensions and effectively capping LME base metals prices today. "Although market participants have cheered a successful deal between the US and Mexico, underlying risk sentiment remains fragile. As such, we remain cautious toward the short-term respite that the base metals are enjoying because US-China trade tensions seem a long way from being resolved,"...