Base metal traders keep eyes on eurozone in LME officials
Dec 08, 2011 | 08:39 AM
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Base metals remained rangebound in Thursday’s official session on the London Metal Exchange, as traders considered the implications on the euro – and subsequently on prices – of the EU heads of state summit that began on Thursday.
“One could say that the politicians are committed to trying to pull a rabbit out of the hat,” a broker said. “They have to restore confidence in the euro. The alternative is not worth thinking about.”
German chancellor Angela Merkel and French president Nicolas Sarkozy are pushing for new EU treaties that will impose sanctions on nations that exceed their budget....
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