LIVE FUTURES REPORT 17/07: LME copper price rallies; Chinese data supports prices

The three-month copper price hit highs of $6,022.50 per tonne on the London Metal Exchange in afternoon trading on Monday July 17, as most other metals followed the upward trend.

Copper’s price was buoyed by positive Chinese data, as well as news that a fire broke out at the Tenke Fungurume mine in the Democratic Republic of Congo. The weekend incident saw two confirmed casualties, according to the miner. “The primary catalyst for the move up has been constructive numbers coming out of China. In this regard, the government reported that the Chinese economy grew by 6.9% in Q2, better than expected,” noted Edward Meir of INTL FCStone. Nickel is also having a strong day, currently trading above the $9,600 barrier for...

Published

Alice Mason

July 17, 2017

17:34 GMT

London