LIVE FUTURES REPORT 06/12: LME copper price recovers from Tuesday’s decline; rest of complex weaker

Base metals prices on the London Metal Exchange were mostly weaker at the close on Wednesday December 6, despite copper staging a slight recovery.

Copper’s LME collapse yesterday was the largest one day decline [in percentage terms] since May 7, 2015, Marex Spectron’s Alastair Munro noted in a morning note. It closed slightly higher at $6,550 per tonne today. “The ferocity of the decline suggests that there was heavy fund liquidation and stop-loss selling that fed on itself as the day wore on. Although the dollar was stronger, it was up by only a modest amount and so was not really a factor in the decline,” Edward Meir of INTL FCStone said in a note. Lead was the only base...


Alice Mason

December 06, 2017

17:35 GMT