Base metals prices on the London Metal Exchange continued their strong performance during Monday January 15 and closed in positive territory across the board.
Prices were supported by a weakening dollar which fell to its lowest in nearly three years; copper was one of the best performers closing over $100 higher than Friday. "The supportive macro backdrop (weak dollar, positive macro data) should continue to exert upward pressure on copper prices," Boris Mikanikrezai, Metal Bulletin analyst said. "Over the next three months and beyond, we also have a constructive view because we think the concentrate market will tighten, which will in turn affect the refined market. Demand should prove robust," he added. Zinc prices continue to...