LIVE FUTURES REPORT 15/02: LME base metals prices stick at high levels; ali falls on more stock increases

Base metals prices on the London Metal Exchange were mostly higher at the close on Thursday February 15, with only aluminium prices falling.

The three-month copper price briefly breached the $7,200 per tonne mark before retreating – but closed $19 per tonne higher. It has closed in positive territory every day this week. “We think that both LME and Comex speculators have got too bearish in their positioning and that short-covering action is currently under way, supporting the LME copper price to recover higher,” Metal Bulletin analyst Andy Farida said. “With no immediate sign of large inflows toward LME-approved warehouses, total copper stocks now stand at 333,525 tonnes. The copper price has had limited pullback and judging by the strong rebound, the overhead supplies have been...

Published

Alice Mason

February 15, 2018

17:31 GMT

London