Copper eased up to £ 4.35 / kg and stocks eased down to 254 kT, both back to where they were before the global pandemic.
Demand from China appears to be high but is that sustainable with global markets heading into recession ?
How much of a risk is there of a 2nd wave of infections causing further lock downs and further depressing economies ?
Equities seem convinced that the worse of the economic impact of the pandemic are behind us as economies ease lock downs and restart their economies, but how much of that represents actual trading conditions and how much bloated cash accounts from cheap government loans ?
The LME is debating whether to re-open it’s daily pricing ring. How confident are we that moving to a fully digital market will provide the transparency we need to ensure that the market is not being rigged ?