Shanghai and London base metals cruised lower across the board in early morning trade on Wednesday, reversing gains from Tuesday’s substantial rally, as caution returned to the market with concerns over the coronavirus pandemic lingering.
Overnight on the LME, base metals closed broadly higher. Tin remained the biggest gainer with a nearly 2.7% increase, lead jumped 2.6%, copper surged 2.4%, nickel and zinc both rose more than 1.3%, while aluminium inched up 0.2%.