Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Thursday April 25, with the upward price action capped by broad strength in the US dollar index, while fresh cancelations fail to galvanize lackluster price action.
Copper's three-month price fell to a low of $6,355 per tonne over the afternoon, its lowest price since March 27 amid an uptick in the US dollar index, which continues to trade above the psychological level of 98 for the first time since 2017. Despite fresh cancelations of more than 24,500 tonnes this week, the red metal's price action has been subdued this week, while volumes have remained moderate at just over 16,000 lots changing hands by the close. "The recent macro...