Base metals prices on the London Metal Exchange edged slightly higher this morning on Tuesday September 18, despite news late yesterday that the United States had imposed new tariffs on $200 billion worth of Chinese goods.
"The market was no doubt relieved [the new tariff on Chinese goods] was not 25%," William Adams, Metal Bulletin senior analyst said. "The base metals seem to be base building. The lows in mid-August were followed by rebounds that stalled and prices have since retreated to test the quality of underlying buying, which seems to be good, as for the most part the support levels have held."After a bearish start to the week, the majority of base metals are finding some support this morning as stock...