Base metals prices on the London Metal Exchange were in positive territory across the board at the close on Tuesday February 13, after the complex was boosted by a weaker dollar and continued to rebound following last week's sell-off.
"LME base metals are showing their strength once again and pushing back up to the high levels seen before the sell-off. The market needs to stabilize back at these levels now," a trader said. The complex is now trading back at January highs after a few volatile trading weeks - with copper, zinc, nickel and tin prices climbing over 2%. "Improving risk sentiment and recent dollar weakness has helped alleviate the selling pressure seen since the start of February... With China soon away on holiday for Lunar New Year, we expect trading conditions to remain somewhat...