LIVE FUTURES REPORT 07/11: LME copper continues incline in 1.2% uptick; Al back above $1,800/t

The three-month copper price on the London Metal Exchange increased during morning trading on Thursday November 7, with its price action nearing the $6,000-per-tonne resistance level against a sizable turnover.

The red metal’s outright price on the LME was recently at $5,962 per tonne, with some 4,400 lots exchanged as of 9:20am London time.  Supporting this, LME copper stocks were subject to a fresh outflow of 3,375 tonnes split across LME-registered warehouses in Busan and Rotterdam, taking the exchange’s on-warrant inventory down to 172,800 tonnes.  The forward spreads in copper narrowed slightly over the morning, with the metal’s benchmark cash/three-month spread recently trading...

Published

Hassan Butt

November 07, 2019

10:05 GMT

London