LIVE FUTURES REPORT 15/03: LME Cu trades up despite Asia inflows; nearby spread contango supports

In a reversal of its closing fortunes on March 14, the London Metal Exchange’s three-month copper contract increased to $6,415 per tonne during morning trading on March 15, up by $11 per tonne from the $6,404-per-tonne close the previous day.

A significant 44,800 tonnes of material was recorded to have arrived almost exclusively into Asian warehouses as of 9am on March 15, with global stocks of material across LME warehouses now up to 186,425 tonnes. “Finally some of the much discussed copper shipments arrived into LME warehouses but the question now is how much, if any more, will arrive, with market guesses ranging from 60,000-100,000 tonnes. It will certainly focus people’s attention at 09.00 today,” Kingdom...


Amy Hinton

March 15, 2019

11:05 GMT