London Metal Exchange three-month base metals prices, with the exception of lead, continued their upward momentum at the close on Tuesday April 14, buoyed by positive China customs data and ebbing virus concerns in other regions, including the United States.
China's trade balance figures for March, which measure the difference in value between imported and exported goods month on month, were announced at 139 billion yuan ($19 billion) today, up from -43 billion yuan in February. Despite being less than the 175 billion yuan forecast for the period, the increase was nonetheless significant, giving support to demand for LME base metals."It's a great day for the base metals complex with the exception of lead. The positive narrative from China today has given some support to demand for risky assets and has fueled some bargain hunting activity," Fastmarkets research analyst Andy Farida said. The LME three-month lead price was the only metal...