LIVE FUTURES REPORT 22/01: LME copper price capped by further 34kt fresh inflow

Any upward momentum in the London Metal Exchange three-month copper price was capped in the morning session on Wednesday January 22 by a significant 34,250 tonne fresh inflow of the red metal into LME-approved sheds as of 9am on the same day.

The three-month copper price was trading around $1,633.50 per tonne this morning, down 0.4% from the previous day’s afternoon kerb close, after a second sizeable delivery of material today while just 1,800 tonnes were moved out of LME global sheds as of the same time. The price hit a two-week low of $6,128 per tonne earlier this morning, pressured lowered by two consecutive days of large deliveries, which totaled 72,950 tonnes and leaves global inventory at...


Amy Hinton

January 22, 2020

10:03 GMT