Base metals prices on the London Metal Exchange were predominantly higher during morning trading on Monday July 15, supported by stronger than expected industrial data out of China, while a slight downturn in the US dollar index aided buying activity.
Over the weekend, China's National Bureau of Statistics (NBS) calculated industrial production had increased 6.3% year on year in June-July, exceeding an expected 5.2% rise.The uptick indicates broad health in China's industrial sector, which bodes well for base metal consumption, despite a slight downturn in the country's gross domestic product (GDP) figures quarter on quarter. As a result, LME three-month prices held gains over the weekend, with nickel the standout performer and...