LIVE FUTURES REPORT 23/10: LME copper price climbs 1% toward $5,900/t; tin price lags

The three-month copper price on the London Metal Exchange rose to its highest level in more than a month at the close of trading on Wednesday October 23 amid positive forward spreads, while tin futures underperformed in a 2% decline over the afternoon.

Copper’s three-month price closed at $5,881 per tonne this afternoon, its highest level since September 13, with just over 16,000 lots of metal exchanged at the close. The red metal’s outright price was boosted by a sizeable fresh cancellation this morning amounting to some 34,050 tonnes, the bulk of which was booked out of LME-registered warehouses in Rotterdam and Trieste. Meanwhile, copper’s cash/three-month spread on the LME continues to support...


Hassan Butt

October 23, 2019

18:02 GMT