In the base metals complex, only nickel and
tin traded higher for the quarter.4 A slow start to Chinese restocking coming
out of the Chinese New Year holiday weighed on prices for copper and aluminum, both
of which saw their worst quarterly results in years, while zinc and lead prices also declined.4 The London Metal Exchange (LME) Index, which tracks the three - month futures prices
of all six metals,
fell 6.3 %.4 LME copper -LRB--7.4 %, to US$ 6,714 per mt) and other industrial metals erased some
of their 2017 gains,
falling alongside a sharply decelerating expansion in China's manufacturing activity — sparking demand concerns and greater caution among hedge funds and other speculators who cut their net long positions in the metal.4 Outside the LME, US steel was buoyed by trade policy changes.