Base metals recovered from their lows but sentiment remains cautious, particularly for the likes of copper and zinc.
The copper price slumped to six month lows yesterday and started this morning holding around these levels. Since then, it has seen a marginal recovery but at 6,570 it remains soft.
The price declines across the board were sparked by a wave of investment selling, long liquidation and the take-out of key technical levels.
LME week kicks off next week which will see the metal industry descend on London to discuss the industry – with prices this low, and the macroeconomic not looking particularly cheerful, there should be plenty to talk about
