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.