LIVE FUTURES REPORT 11/12: Strong start to the week for LME copper, nickel prices

Base metals prices on the London Metal Exchange were mostly higher at the close on Monday December 11, with copper and nickel the standout performers.

The three-month copper price climbed $99 higher as it continued to recover from last Tuesday’s massive sell-off, which sunk prices to a two-month low. “We remain bullish for copper’s fundamentals but the recent high prices have attracted selling and given the gains this year, it does look as though longs are taking profits ahead of year-end,” Metal Bulletin senior analyst William Adams said. “We would let this price pull back and run its course before looking to buy again,” he added. The price has been buoyed by news that Tongling Nonferrous Metals Group, China’s second-largest copper producer, will close part of its operations to ease pollution over the winter and further support came from the release of positive economic...

Published

Alice Mason

December 11, 2017

18:00 GMT

London