LIVE FUTURES REPORT 24/07: LME base metals prices edge higher on easing trade fears

Base metals on the London Metal Exchange finished higher on Tuesday July 24, finding support from a weaker dollar index and easing tensions related to the trade spat between the United States and China.

The three-month copper price closed above $6,200 per tonne for the first time since July 13, building momentum against a month-long downtrend after prices spiked to a fresh 2018 high of $7,259 per tonne on June 13. “We are seeing a much more spirited advance in the metals group today. Aluminium is up for a second straight day and copper has taken off… in anticipation of potential unrest at Chile's Escondida copper mine,” INTL FCStone analyst Edward Meir said. Although miner BHP and the main union at the Escondida copper mine in northern Chile have resumed talks over...


Hassan Butt

July 24, 2018

18:05 GMT