LIVE FUTURES REPORT 29/12: LME copper, ali dip after recent rally; base metals consolidating

Base metals prices on the London Metal Exchange edged lower at the beginning of the last trading day of the year, Friday December 29, but are mostly consolidating after hitting fresh highs over the last two days.

Copper is still trading above $7,200 per tonne after hitting its highest in nearly four years on Thursday. While aluminium’s three-month price remains above $2,200 per tonne after it set fresh 2017 high of $2,284 per tonne. “Environmental protection policies are still helping to support the aluminium price, especially in [China's] Shandong province,” according to Galaxy Futures. The nickel price also rallied yesterday, climbing 2% at the close, supported by a weakening dollar and overall bullish sentiment. The three-month nickel price was little changed this...

Published

Alice Mason

December 29, 2017

10:02 GMT

London