CLOSE TO CLOSE: Base metal prices swing wildly in LME kerb

Dec 08, 2011 | 12:33 PM |

Base metal prices reached both intra-day highs and lows in Thursday’s kerb trading on the London Metal Exchange, as the market reacted to each morsel of information to come out of the EU heads of state summit. Markets worldwide are in limbo, waiting to see what measures the summit agrees on. The direction of the euro, and thus base metals, depends on the outcome. Eurozone leaders are expected to agree new sanctions to ensure that governments do not let their deficits exceed 3% of their GDPs. The European Central Bank (ECB) cut interest rates, as expected, to....

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