LIVE FUTURES REPORT 05/12: LME base metals prices down; copper plummets 2%

Base metals prices on the London Metal Exchange were lower across the board during morning trading on Tuesday December 5 due to year-end profit-taking.

The three-month copper price is down almost 2%, hitting a low of $6,667.50 per tonne already this morning as concerns about slower growth in China put pressure on prices. Copper stocks also increased over 10,000 tonnes this morning at LME-listed warehouses with deliveries in across multiple Asian locations. “Copper prices have struggled to rebound and are falling as we write, prices have now broken support at $6,700 per tonne, which opens the way for prices to fall further,” Metal Bulletin senior analyst William Adams said. “For now with the prices of heavyweights aluminium and copper breaking lower and nickel weaker too, it does look...

Published

Alice Mason

December 05, 2017

10:11 GMT

London