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London Metal Exchange three-month base metals prices were trading up on the previous day’s close during the morning session on Wednesday October 21, boosted by hopes of an imminent US fiscal stimulus package and increased government-sanctioned Chinese infrastructure spending.
Half of the base metals prices on the London Metal Exchange have in recent days risen to multi-month highs, with copper reaching levels not seen since June 2018, and all of the metals are pushing higher this morning, Wednesday October 21.
Hot-rolled coil prices in the United States have crossed the $33.50-per-hundredweight ($670-per-short-ton) threshold, and most signs indicate that they will continue to march upward, market participants said.
Warm weather and lack of moisture in the summer and excessive rains in the autumn dragged spring wheat yields in Kazakhstan…
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