NORTH AMERICAN MORNING BRIEF 27/03: LME base metals recover; FMG revises iron ore guidance; Largo Resources’ revenue doubles in 2017

Base metals prices on the London Metal Exchange were higher across the board during morning trading. The market mostly ignored possible trade tensions between the United States and China and market sentiment has improved to boost prices.

“It seems that the risks of a possible trade war between the US and China are being ignored completely on the base metals markets today – which in our view is hardly justified. After all, the situation has not changed overnight, as far as we can see,” Commerzbank said in a research note.

“In any case, metals this morning are making a strong recovery from their previous losses, not only the weak US dollar but also firm stock markets playing their part in this,” it added.

Here is how the LME base metals complex looked at 12.29pm London time:

For a snapshot of exchange news, check out our live futures report.

At Metal Bulletin’s 19th Asian Ferro-alloys conference in Hong Kong on March 20-22, Asia editor Shivani Singh asked delegates questions about the three Ps: products, prices and places. See the poll results here.