Base metal prices on the London Metal Exchange made gains on Thursday November 29, following a rise in crude oil futures, but market sentiment remained uncertain with commodities facing macro-economic headwinds.
Brent crude oil prices were firmer in afternoon trading, up by $1.80 to $60.16 per barrel. The recent low was $58.38 per bbl.For base metals, nickel was the highlight, with the three-month contract price going up by 2.36% to close at $11,055 per tonne.The price of copper firmed by $12 per tonne, while aluminium rose by $8 per tonne.Aluminium, lead and nickel were all trading close to lows set in 2017. Price increases for base metals continue to be capped by macroeconomic headwinds."With the [approach of the] summit [for leaders...