Metals claw back some of Wednesday's losses

BASE metals rebounded overnight as trade fear concerns eased slightly.

Metals claw back some of Wednesday's losses Metals claw back some of Wednesday's losses Metals claw back some of Wednesday's losses Metals claw back some of Wednesday's losses Metals claw back some of Wednesday's losses

"China's Vice Minister of Commerce calls for a new round of bilateral negotiations promotes a more conciliatory tone and has been enough to see the stock markets lead the ferrous and base metals higher with SHFE rebar rallying to fresh highs," Alastair Munro from Marex Spectron's LME desk said.

"But investor confidence has been shaken to the core, with the LMEX index now below a long term uptrend line from the Jan 2016 low.

"Major trend reversals don't happen immediately so we expect a choppy price period with reduced liquidity especially as we approach summer holidays." 

Nickel was the best mover, up by 2.3% to US$14,099 per tonne.

Copper rose by 1.3% to $6210.25/t.

Cobalt was unchanged, while aluminium was slightly lower.

Gold wa...

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