London Metal Exchange three-month base metals prices largely traded down at the close on Tuesday March 17 with risk-aversion from the global spread of the coronavirus (CoV-2019) and associated corporate shutdowns weighing heavily on the complex.
"Global financial markets remain rattled while the virus wreaks havoc across Europe and the United States," Fastmarkets research analyst Andy Farida said. "Panic selling in major equities markets now paints a drastically different picture to that of early January 2020, when the market celebrated record highs following a signed trade deal to end the bitter long disputes between the US and China."No base metal has been worse-hit than tin - the LME three-month tin price spanned a wide $1,025-per-tonne intraday range.The LME three-month tin price shed 7% day on day from $15,300 per tonne...