Directionless base metals prices frustrate market in LME officials

May 01, 2012 | 08:48 AM |

Base metals prices continued to trade sideways in official trading on the London Metal Exchange on Tuesday May 1, prompting brokers to bemoan the markets’ lack of direction. Three-month copper settled at $8,390.50/91 per tonne, down $30 from its opening level but up $23.50/24 from Monday’s official price. Trading volumes were light throughout the Asian and European sessions as markets in China, Germany, France, Italy and Switzerland were closed for public holidays. “It’s an absolutely dead market today, and everyone’s just....

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