Base metals price on the London Metal Exchange were all trading down on Thursday April 18 after the previous day's boost from positive Chinese industrial production and retail data was replaced by bearish sentiment on weak European data, in particular German PMI figures.
Base metals prices spiked on Wednesday when positive Chinese data sparked a spate of bullish consumption, but analysts consider yesterday's rally to be nothing more than a bull trap as the market excited itself and tried to capitalize on China's first positive 2019 data figures. "Some buyers may have got excited trying to make quick bucks, driving prices higher...