NORTH AMERICAN MORNING BRIEF 14/11: China copper demand/supply outlook; US copper premiums up; zinc under pressure

Date: Nov 14, 2018

The latest metal markets news and price moves to start the North American day on Wednesday November 14.

Base metals on the London Metal Exchange were mostly lower during morning trading, with prices weakened by a prolonged sell-off in crude oil markets while continued strength in the US dollar index increased downward pressure.

Falling by just under 1% over the morning, the three-month nickel price reached an intraday low of $11,240 per tonne and is trading 3% lower than Tuesday’s high of $11,570 per tonne. Similarly, both zinc and lead futures consolidated lower over the morning.

Here is how the LME base metals complex looked at 12.01 pm London time:

For a snapshot of exchange news, read our live futures report here.

China’s copper cathode production will increase by 6% in 2019, while this year`s projects contributed to 9% growth, said BGRIMM Lilan Consulting.

To read full article please click here