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Non-independent Research Daily Base Metals Report

Non-independent Research

Daily Base Metals Report

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Authors
Geordie Wilkes

Geordie Wilkes Head of Research

Contact research Contact Industrial Commodities

The dollar has strengthened today as stocks managed to take back some of the recent losses, due to encouraging data from the U.S. about declining deaths and patients admitted to hospital. We once again highlight the backdrop of weak economic data which was affirmed by Warren Buffet over the weekend.

Rising tensions between the U.S. and China once again remain a threat for metals. Activity on the LME was subdued today with copper prices struggling to gain a footing on the upside, closing at $5,123/t. Tin prices continue to be well bid closing at $15,085/t. Nickel prices declined the most today, closing at $11,812/t down $143. Ali, zinc and lead were also weaker closing at $1,483/t, $1,899/t and $1,630/t respectively.

Gold prices have firmed today to $1,706/oz and oil is also marginally higher with WTI and Brent at $19.91/bl and $26.66/bl.

Disclaimer

This is a marketing communication. The information in this report is provided solely for informational purposes and should not be regarded as a recommendation to buy, sell or otherwise deal in any particular investment. Please be aware that, where any views have been expressed in this report, the author of this report may have had many, varied views over the past 12 months, including contrary views.

A large number of views are being generated at all times and these may change quickly. Any valuations or underlying assumptions made are solely based upon the author’s market knowledge and experience.

Please contact the author should you require a copy of any previous reports for comparative purposes. Furthermore, the information in this report has not been prepared in accordance with legal requirements designed to promote the independence of investment research. All information in this report is obtained from sources believed to be reliable and we make no representation as to its completeness or accuracy.

This report is not subject to any prohibition on dealing ahead of the dissemination of investment research. Accordingly, the information may have been acted upon by us for our own purposes and has not been procured for the exclusive benefit of customers. Sucden Financial believes that the information contained within this report is already in the public domain. Private customers should not invest in these products unless they are satisfied that the products are suitable for them and they have sought professional advice. Please read our full risk warnings and disclaimers.

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