London Metal Exchange base metal prices are broadly higher on Thursday December 13 due to good signals from China-US trade tensions, with the three-month zinc price leading the complex due to historic low inventories.
"More positive steps from China on trade seem to be easing some of the concerns in the market, although traders are probably nervous that any positivity could be unwound with one presidential tweet," Fastmarkets senior analyst William Adams said in his morning note. "Sentiment has now turned back and is trying to find the rationale that leads to higher ground," John Browning from broker Bands Financial Limited said. "Chinese importers have bought between 1.5 million and 2 million tonnes of US soya beans in the last 24 hours. The sigh of relief from mid-western farmers can...