LIVE FUTURES REPORT 25/06: LME copper, zinc breach nearby resistance in upbeat trading

Both copper and zinc’s three-month prices on the London Metal Exchange were elevated during morning trading on Tuesday June 25, breaching the nearby resistance levels while a weaker US dollar index fueled further buying momentum.

The red metal’s three-month price has been trading in a narrow range between $5,900-6,000 per tonne over June, while physical market participants continue to indicate a high availability of LME-registered grade-A cathodes in the LME systems. 
On-warrant material for copper now sits at some 223,175 tonnes, up by 13.5% from 193,025 tonnes at the beginning of June. 

That said, ongoing disruptions at Chilean copper producer Codelco’s Chuqicamata mine continue to threaten global copper...


Hassan Butt

June 25, 2019

10:15 GMT