LIVE FUTURES REPORT 12/02: LME copper price recovers 1.2%; lead continues to buck the trend

Base metals prices on the London Metal Exchange were mostly higher during morning trading on Monday February 12, with the complex attempting to rebound from last week’s choppy trading conditions.

The three-month copper price has recovered $89 and is trading back above $6,800 per tonne after dropping to a low of $6,733 per tonne last Friday. “A strong open to the new week… led by copper that gapped on the open on what feels like Chinese short-covering ahead of the holidays,” Marex Spectron’s report said. “Outside of some regional demand from arb and speculative traders ahead of Chinese New Year it is hard to pinpoint exactly why copper has rallied to the extent that it has but shorts have been forced to cover and there is undoubtedly a fear of missing...

Published

Alice Mason

February 12, 2018

10:30 GMT

London