[Ferro-Alloys.com] Base metal prices drifted lower during the kerb session on the London Metal Exchange on Tuesday September 24, capped by thin volumes as funds kept out of trading in the absence of a clear direction on where prices are headed.

 

Following the announcement last week that the US Federal Reserve would not start scaling backs its $85 billion-per-month asset purchase programme, the market is now waiting for further signs on when tapering will take place. “It will be a groundhog type environment until we get signs that the Federal Reserve is going to taper [...] There is just not much happening this week. There is no directional push and so funds are not doing anything,” an analyst said.