LIVE FUTURES REPORT 31/10: LME copper price slides 1.4% on high turnover; lead dips below $2,200

The three-month copper price on the London Metal Exchange was lower at the close of trading on Thursday October 30, settling below the $5,800 per tonne support level against high turnover, while lead futures also closed below nearby support.

Copper’s three-month price closed at $5,797 per tonne on Thursday afternoon, with some 20,000 lots exchanged over the day. The red metal’s outright price fell from an intraday high of $5,915 per tonne, with Thursday’s close its lowest since October 17. Prompting the downturn, some 24,350 tonnes of grade-A cathodes were delivered into LME-registered warehouses in Rotterdam on October 30, taking the location’s total copper stock count to more than 90,000 tonnes. This was the highest stockpile of copper across the LME’s warehouse...


Hassan Butt

October 31, 2019

19:20 GMT