Base metals prices on the London Metal Exchange largely moved lower on Tuesday June 12 amid a bout of selling, with a lack of fresh catalysts to drive the market.
The three-month copper contract finished at $7,222 per tonne at the 5 pm close after reaching five-year highs at the end of last week. "Metals ended mixed ... with copper leading the way down as potential labor concerns out of Chile continued to fade," INTL FCStone analyst Edward Meir said."We learned that unions at BHP's Spence copper mine [in northern Chile] agreed to a new contract, improving the odds of reaching...