CLOSE TO CLOSE: LME copper prices close higher after kerb rally

Copper prices closed up on the day on Thursday September 27 after gaining $70 in the last 20 minutes of trading, supported by the publication of Spain’s austerity budget and speculation that China may announce new stimulus measures.

Three-month copper prices finished at $8,175 per tonne, up from $8,120 per tonne a day earlier, after gaining ground towards the closing bell.
“The data we have had from the US hasn’t been so strong and we’ve got further unrest in Europe, so the macro signs don’t look encouraging, but copper is still fairly resilient,” he said.

It is possible that US markets are factoring in the possibility that the Chinese government will announce further stimulus measures on Friday, before the start of...


Mark Burton

September 27, 2012

18:10 GMT