LIVE FUTURES REPORT 06/11: LME base metals prices capped by low volumes despite stock outflows

London Metal Exchange three-month base metals prices were broadly trading down in the morning session on Wednesday November 6, suppressed by low trading volumes despite stocks flowing out across all the metals today.

The LME three-month copper price notably abated during the morning session, trading down to around $5,921.50 having hit a high of $5,978 per tonne yesterday while turnover for the day exceeded 16,000 lots on supply-side concerns. The price has yet to react to a 7,075-tonne inventory drawdown from LME-approved sheds recorded at 9am today versus a lesser 1,000 tonne inflow at the same time. LME global copper stocks are now at 241,925 tonnes, their lowest since July...


Amy Hinton

November 06, 2019

10:26 GMT