Base metals traded on the London Metal Exchange broadly closed up at the afternoon kerb on Tuesday June 25, while a spate of short-covering meant healthy trading volumes drove gains across the majority of the complex.
Marginal headway made in US-Sino trade negotiations, with US President Donald Trump and China's Xi Jinping set to meet at the G20 Summit in Japan this week, is supporting risk sentiment to the upside across the base metals complex, but fundamental optimism may be short lived. Nickel traded up 1.2% or $150 per tonne from the previous day's close at $12,290 per tonne, despite trading a modest 8,812 lots by 5pm. Despite fundamental tightness in the physical...