LME WEBCAST – Metals volatile after shock Trump win, look to US for direction

  • It has a volatile day of trading for base metals after a shock win by Donald Trump in the US election
  • The inital knee-jerk reaction was for prices to trend lower, but they quickly recovered with the likes of nickel and copper spiking more than 6% to fresh 2016 highs.
  • Traders said the increase coule be due to Trump’s pledge to increase infrastructrure, alongside a softer dollar.
  • Traders will now wait to see the reaction from US funds when they open today. Many are of the opinion that the moves higher were overdone and did not reflect fundamentals and could see a correction