Base metals prices on the London Metal Exchange were mostly lower during morning trading on Thursday March 15, while the market awaited key US data released later today.
"Just when it looked like the markets were going to make a sustained move yesterday we reverted back to the same discontinuous and choppy price action... All eyes are on the slew of US data to come later," Matt France, Marex Spectron said. The three-month copper price was unable to hold onto yesterday's gains and is down by $32.50 per tonne this morning. The red metal is failing to find the support needed to stabilize back above $7,000 per tonne.Nickel prices dipped $95 per tonne but remain trading at high levels above $13,700 per tonne. "Investors should now be paying attention to the lower levels of refined nickel stocks on the LME as well as the higher...