LIVE FUTURES REPORT 13/11: LME copper prices pick up pace; nickel rallies 3%

Base metals prices on the London Metal Exchange were broadly higher at the close this afternoon, Monday November 13, with copper and nickel the best performers once again.

“Nickel recovered some of the losses seen at the end of last week back up to the $12,550 per tonne area but the main feature of the day was once again moves on the open of the Shanghai Futures Exchange night session (2pm London) where [the] aggressive buying of copper appeared, triggering a “follow me” move in London, taking the three-month price back above $6,900 per tonne,” noted Sucden Financial’s metals report. Copper hit highs of $6,932 per tonne today but dropped back slightly at the close to end the day just below $6,900 per tonne. The price has been buoyed by steady demand and news that a supply route to the Grasberg mine closed due to a shooting incident Sunday, but it...

Published

Alice Mason

November 13, 2017

17:40 GMT

London