LIVE FUTURES REPORT 22/05: LME copper price dips below $6,000/t amid trade uncertainties, robust dollar

The three-month copper’s price on the London Metal Exchange fell by 1.3% at the close of trading on Wednesday May 22, with price pressure emerging from resurging trade tensions between the United States and China, while dollar strength is limiting commodity investment.

Volumes were moderately high for the red metal by the close, totalling more than 18,000 lots traded, the most since May 13. Following a 0.6% drop at the morning session, copper futures continued to slide over the course of the afternoon session, reaching an intraday low of $5,913.50 per tonne, its lowest level since January 24. The three-month copper price closed at $5,928 per tonne. Total LME copper stocks remain healthy at 187,700 tonnes, with just 13,250 tonnes canceled, indicating...


Hassan Butt

May 22, 2019

17:54 GMT