MB:Base metal prices higher on short covering in LME pre-market
Base metal prices were higher during pre-market trading on the London Metal Exchange, extending gains on short covering and recovering sentiment
Base metal prices were higher during pre-market trading on the London Metal Exchange, extending gains on short covering and recovering sentiment. Three-month copper traded at $9,140 per tonne at 10:24 BST, up from an opening price of $9,082.75 per tonne, as traders covered short positions established in the expectation that further macroeconomic turbulence would bring copper prices lower. With economic conditions stabilising for the meantime in Europe and the USA, and sentiment improving in key markets, market participants were covering those positions, source said....
