LIVE FUTURES REPORT 24/12: LME copper price hits fresh 7-month high on potential Chinese output cuts

Copper hit a fresh seven-month high today on the London Metal Exchange on Tuesday December 4 while Chinese smelters were preparing for a meeting at which potential cuts to refined supply will be a talking point.

Copper for three-month delivery on the LME peaked at $6,235 per tonne, its strongest since May 7, before closing at $6,215 per tonne, still up 0.4% from yesterday's 5pm close.
Improved trade relations between China and the United States - they two nations agreed on a phase-one deal that includes ending enforced tariffs on many goods - since earlier this month have boosted copper prices though metals are yet to be included in any agreement.

But refined copper physical market fundamentals appear to...


Archie Hunter

December 24, 2019

17:28 GMT