The prices of base metals on the London Metal Exchange were for the most part higher during morning trading on Friday October 12, with prices stabilizing after a midweek sell-off resulted in Asian equity markets falling to a 19-month low and prompting risk-averse investors to curb buying.
"Aside from the bearish macro fears, the overriding theme from LME Week has been bullish on the back of the recent genuine demand pick-up coupled with historically low global base metal inventories," Marex Spectron's LME Desk analyst Alastair Munro said in a morning report. "However what particularly stands out is the relative underinvestment in our space with discretionary traders largely flat and systematic funds neutral to short. It's also worth reiterating that the recent quarter-end saw real money inflows for the first time in what feels like years," he added. While price action across the complex remains volatile, particularly in...