Base metals on the London Metal Exchange ended mostly higher at the close of trading on Monday July 30, led by a 1% climb in aluminium prices while broad risk aversion continues to dominate market sentiment.
Elsewhere, lead and tin prices edged higher over the afternoon, with the latter climbing back over $20,000 per tonne for the first time since June 27. While a downtick in the US dollar index, which made steady gains over the bulk of the July period, gave some relief to the complex, both zinc and copper prices struggled to find support over the afternoon.Falling 0.7% from Friday's closing price, copper's three-month price picked up momentum after reaching an intraday low of $6,162 per tonne, but struggled to push above the $6,300-per-tonne mark due to poor investor sentiment. Ongoing disruptions at BHP's Escondida mine in Chile have created stagnation in the copper...