Base metals prices on the London Metal Exchange were mostly lower during morning trading on Monday February 18, with the three-month copper and tin prices rising while continued uncertainty over US-Chinese trade relations dampens investor sentiment.
Climbing just short of 1% over the morning, the three-month copper price is trading back above the nearby $6,200 per tonne threshold, while total volumes are leading the complex with more than 7,000 lots changing hands by 10:00am London time. Amid recent buying and choppy price action, the metal's forward spreads have exhibited tightness, with its cash/three-month spread in a backwardation of $9 per tonne, from a contango of $15.75 per tonne on February 12. Meanwhile, tin futures also traded higher over the morning, and are continuing to hold ground around $21,000 per tonne, while the metal's three-month price has gained $100 per tonne over the morning with just 15 lots traded by 10:00am."Ahead of this week's resumption in trade talks, [there has been]...