Base metals prices on the London Metal Exchange had mostly drifted lower by the close on Wednesday December 12 but were confined to tight ranges throughout what was an unexceptional trading day.
Volumes were thin while market participants slowed their trading ahead of the looming end of the year. In copper, around 10,000 lots traded by the 5pm close compared with more than 22,000 lots on Friday. The three-month copper price was $28 lower by the today's close it remained above $6,100 per tonne. "We expect copper prices to strengthen in the coming days based on the fact that we think that US-China trade relations will improve while the Fed will maintain its dovish tone...