In 2019, the six LME base metals were 1.74% higher from the closing level at the end of December 2018. In Q1 2020, the sector plunged 17.09%. In Q2, it came back and was 12.88% higher. In Q3, the rally continued, and the sector posted an 8.95% gain. Over the first nine months of this year, base metals were 1.68% higher. The best performing commodity in the base metals sector in Q3 was LME zinc, which rose 17.39%. LME nickel rose 12.35%. COMEX copper was 11.76% higher for the quarter, and the LME copper forwards appreciated by 9.41%. Aluminum moved 9.19% higher during the quarter, while the price of tin gained 4.27%. Lead was 1.11% higher. Meanwhile, the price of iron ore moved 25.93% higher in Q3. The Baltic Dry Index fell 7.58% after a massive gain in Q2.
Central banks around the world slashed interest rates. Monetary and fiscal