LIVE FUTURES REPORT 06/06: LME copper price rallies to 5-mth high; tin, Ali move higher

Copper prices on the London Metal Exchange continued to rally at the close of trading on Wednesday June 6, ending trading 1.6% higher and surpassing $7,200 per tonne for the first time since January 2.

“There is a bit of short covering in copper at the moment. Whether this is just built on fears of Escondida [labor negotiations] is difficult to see,” Geordie Wilkes, head of research at Sucden Financial told Metal Bulletin. “I wonder whether copper’s current momentum can carry on, especially with the labor-related issues going back to the beginning of the year and subsequently being priced in. Whether it will last is yet to be seen,” he added.  Similarly surging over the afternoon, the three-month tin price climbed 1.5% to push...


Hassan Butt

June 06, 2018

17:55 GMT