Base metals are showing signs of recovery this week, helped by US economic data and China’s infrastructure spending. A sharp decline in oil prices with WTI losing $7/barrel over the last five trading sessions is also providing support as it is affecting US treasury yields, and indirectly the strength of the dollar. US GDP data stronger than expected Base metals prices are closely linked to GDP performance and strong GDP growth correlates very closely to higher metals demand from construction, industrial production, and retail. Not surprisingly prices inched higher after US third quarter GDP data came in stronger than ... (full story)