LME ASIAN WRAP: Copper back to one-month high as QE3 looms

Copper prices on the London Metal Exchange climbed back to a one-month high in early Asian trading on Thursday after minutes of a US Federal Reserve meeting raised the prospect of more quantitative easing.

At 03:30 London time, the LME's three-month copper contract rose $24 from its opening to trade at $7,653.25 per tonne. The contract climbed to as high as $7,675.75 per tonne, the highest level since July 20. "The rally is led by short-covering on heightened prospect for QE3," Deng Hong, an analyst at Maike Futures said from Chengdu. "With risks still...


Metal LX

August 23, 2012

04:10 GMT