LIVE FUTURES REPORT 13/07: Escalating US-China trade tensions weigh on LME base metals; zinc, lead prices down 1.1%

By Hassan Butt / July 13, 2018 / www.metalbulletin.com / Article Link

Base metals price on the London Metal Exchange edged mostly lower during morning trading on Friday July 13, pressured by further uncertainty over US-Sino trade relations after the bilateral trade surplus between the two countries widened to record levels in June.

While overall exports were recorded at $42.62 billion, China's trade surplus with the United States came in at $28.97 billion for June, the highest since 1999. With exporters keen to complete shipments prior to the tariff deadline on July 6, the spike in the trade balance is expected to precede a slowdown over the second half of the year, while both economies adjust to ongoing trade limitations. "As far as commodities are concerned, China exported large amounts of aluminium and steel. Aluminium exports surged by 11% year on year to 510,000 tonnes in June, reaching a record 2.7 million tonnes in the first...

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