Three-month prices for base metals on the London Metal Exchange were mostly flat at the close of trading on Thursday August 27, with investor sentiment jittery after US Federal Reserve chair Jerome Powell announced a greater focus on job security in Thursday's meeting, while tin futures performed best in high-volume trading.
Powell highlighted targets for an average inflation rate of 2% over time, while also rooting the country's monetary policy framework in job security.Meanwhile, tin's outright price was the standout performer over the afternoon, closing at $17,810 per tonne and climbing by more than 1% from an intraday low of $17,595 per tonne. Turnover was high, with more than 500 lots exchanged by the close.This came despite LME tin's tight forward curve, with the metal's benchmark cash/three-month spread recently...