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METALS MORNING VIEW 03/01: Metals prices consolidate, but face numerous headwinds Three-month base metals prices on the London Metal Exchange were mixed this morning, Thursday January 3, with zinc, aluminium and lead up by between 0.4% and 0.7%, copper up by 0.1% at $5,880 per tonne, and nickel and tin lower by 0.8% and 0.2% respectively. Volume across the complex has been high with 11,375 lots traded as at 06.58am London time. Wednesday’s trad ing saw three-month LME base metal s prices drop by an average of 1.2% – led by a 3.2% drop in aluminium. Copper fell to a new multi-month low of $5,831 per tonne, some 20.6% below the June high, a correction of 20% is generally considered indicative of a bear market. Gold prices continued to put in a strong performance so far on Thursday morning, with prices up by 0.4% at $1,290.94 per oz – the highest since June 2018. Silver is tracking gold’s firmer tone, while the platinum group metals (PGMs) were flat with palladium prices in high