Base metals on the London Metal Exchange were broadly range-bound during morning trading on Tuesday July 31, eased by stock drawdowns, cancelations and a weaker US dollar index while trade tensions keep investors guarded.
"While the effects of the trade dispute are now noticeable - import tariffs on Chinese products worth $34 billion have been in place in the US since July 6," Commerzbank Research said in a morning note. "As have Chinese import tariffs on US products of an equivalent value - this sentiment indicator remains above the 50 mark, which indicates expansion. Metals prices are hardly reacting to the data at all."Marginal upticks in nickel, zinc and tin's three-month prices accompanied...