Three-month base metals prices on the London Metal Exchange were mostly lower at the close of trading on Friday July 24, with a continued uptrend in the numbers of Covid-19 cases in the US prompting broad risk-off sentiment across the country's trading hours.
Disappointing US manufacturing data added further headwinds.Copper's outright price on the LME was the biggest loser on the day, declining by 1.5% at the close to settle at $6,415 per tonne. The red metal fell from an intraday high of $6,506.50 per tonne, but improved from a daily low of $6,366 per tonne.Turnover in LME copper topped the complex at settlement, with just over 20,000 lots exchanged by the 5pm close, the most traded since July 15.Meanwhile, a continued surge in US coronavirus cases remained the key deterrent for investors, with many continuing to reduce risk exposure amid US economic uncertainty. The US' Center for Disease Control and...