LME WEBCAST- Base metals shrug off strong US data in thin sessions

  • The base metals ignored US data today, despite many investors standing on the sidelines ahead of the non-farm payroll numbers.
  • US non-farm data surprised to the upside at a substantial 248,000 against the expected 216,000. Gold sold off on the release slumping to a 2014 as it broke under $1,200, while the dollar strengthened against the euro – holding around 25 month highs
  • Ali stocks saw further increases in metal booked for removal due to increases in Vlissingen. Cancelled warrants here have seen close to 100,000 tonnes added in a one month period.
  • Later there will be some additional numbers out of the US, which could see some currency movements, while we may also see some book squaring ahead of the weekend.