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...

Published

Amy Hinton

January 22, 2020

10:03 GMT

London