LIVE FUTURES REPORT 13/09: LME base metals hold recent gains in mixed close; copper pushes above $6,000

Base metal prices on the London Metal Exchange held steady at the close of trading on Thursday September 13, with the complex maintaining its midweek price gains amid a continued downturn in the US dollar index.

The three-month copper price closed above $6,000 per tonne for the first time since August 30. It has gathered momentum since falling to its lowest point for more than a year on August 15, when it was $5,773 per tonne. Yet while the emergence of fresh buying activity could lead to an unexpected rebound in prices, market participants remained cautious about increasingly volatile components in the copper complex, while global trade tensions continued to hinder commodity investment. Since June, copper prices have traded between a five-year high of $7,348 per tonne on June 7 and the August 15 low, with much of the market pricing in the wider trading ranges. “With no sign that fresh buying interest...

Published

Hassan Butt

September 13, 2018

18:15 GMT

London