LIVE FUTURES REPORT 13/06: LME copper shaken by 37kt fresh inflow

Copper’s three-month price on the London Metal Exchange was depressed during morning trading on Thursday June 13, with downward pressure emerging after just over 37,000 tonnes of cathode were delivered into LME-listed warehouses across Asia and Europe.

The red metal’s futures price is now showing signs of a move below the $5,800-per-tonne support level after reaching an intra-morning low of $5,811.50 per tonne - down 0.6% from Wednesday’s close.  Close to 6,000 lots of copper had been exchanged as of 9am London time, indicating moderately high volumes traded amid widespread availability of LME-registered cathodes.  This morning’s inflows were broadly mixed however, with some 7,000 tonnes sent to Gwangyang and Busan, around 9,000 tonnes delivered to Kaohsiung and close to 14,000 tonnes sent to...

Published

Hassan Butt

June 13, 2019

10:12 GMT

London