While generally weak global economic data continues to weigh on sentiment and is keeping base metals prices under pressure, the rise in tensions between the United States and Iran has lifted the gold price this morning, Tuesday June 18.

Base metals continue to face headwinds from the continuing trade dispute between the United States and China, but also from tension over the arrest of Huawei's chief financial officer, Brexit, social unrest in France and stuttering equity markets.

Three-month base metals prices on the London Metal Exchange were down across the board by an average of 1% on the morning of Wednesday August 1. Zinc led the decline with a 1.7% drop to $2,590 per tonne, while copper was down by 1.2% at $6,244 per tonne.

Base metals prices on the London Metal Exchange are down across the board by an average of 0.7% this morning, Tuesday July 4.

Metal Bulletin is proposing to amend a number of Metal Bulletin base metals prices following its acquisition of FastMarkets and a review of overlapping premiums published by both companies.

Fastmarkets is proposing changes to the specifications of its price assessments for steel cold-rolled coil export, fob China, $/tonne and steel galvanized coil 1mm export, fob China, $/tonne.

Markets remain nervous about the trade wars and the impact these are having on global economic growth with recent manufacturing purchasing managers’ index (PMI) data showing a combination of manufacturing contraction, stable but low growth, or slowing growth.

International negotiators have concluded a global treaty aimed at reducing mercury pollution and use of mercury in mining and industry, which will be signed in Japan in October.

News that trade talks between China and the United States will take place later this month has sparked risk-on sentiment in the London Metal Exchange base metals complex this morning.

While US officials have given the impression that they will attempt to defuse the ongoing trade dispute with China at the upcoming Group of 20 (G20) summit on Friday June 28, their Chinese counterparts were less upbeat.