An uninspiring macro picture from China, which released its latest slew of lackluster economic data on Wednesday May 15, kept base metals prices on the London Metal Exchange relatively firm during morning trading on the same day.
"This morning's Chinese data is weak [and] the immediate reaction in the Chinese equity markets is muted," John Browning of BANDS Financial said.The markets seem to have absorbed the shock of newly-announced mutual trade tariffs between the United States and China, with prices universally trading to the upside, except tin, while the complex moved up with the equities markets. In a reversal of the previous day's fortunes, when tin made an intraday gain of $425 per tonne, the galvanizing metal declined by $170 per tonne to trade around...