Copper rallies above $7,500 in LME pre-market, tracking euro moves

Copper prices rose back above $7,500 per tonne in pre-market trading on Thursday May 31, recovering from a five-month low as the euro stabilised against the dollar.

Three-month copper traded at an intraday high of $7,540 per tonne by 10:41 BST, up from an opening price of $7,460 per tonne as the euro moved upwards to $1.242 after finding support at the $1.240 level. Attention in Europe on Thursday was focused on Ireland’s referendum on the EU’s new fiscal treaty, which would set limits on public spending and penalise non-compliant states. Dublin is urging the Irish electorate to vote...

Published

Mark Burton

May 31, 2012

10:35 GMT

London