LIVE FUTURES REPORT 22/01: High turnover, fresh inflows see LME copper lose ground; zinc down 2.3%

The three-month copper price on the London Metal Exchange was lower at the close of trading on Wednesday January 22, settling at a six-week low against strong trading volumes, while a 2.3% decline in zinc saw it close below nearby support levels.

Copper’s underlying price on the LME closed at $6,108 per tonne, down by a further $52 per tonne from Wednesday’s closing price of $6,160 per tonne, while turnover topped the complex at more than 17,000 lots exchanged over the day.

Fresh inflows of more than 70,000 tonnes this week across LME-registered warehouses in Asia and Europe prompted copper’s initial price decline, while the red metal has failed to recover amid the absence of buying momentum from the Asian market – with...

Published

Hassan Butt

January 22, 2020

18:23 GMT

London