LIVE FUTURES REPORT 05/02: Strong volumes see LME copper price exceed $5,700; nickel settles above $13,000

The three-month copper price on the London Metal Exchange was higher at the close of trading on Wednesday January 5, breaching nearby resistance at $5,700 per tonne against strong turnover.

And a positive close across the base-metals complex saw nickel futures make the greatest gains to settle above $13,000 per tonne. Copper’s outright price on the LME closed at $5,722 per tonne on Wednesday afternoon, with the price showing a 1.7% increase against some 24,780 lots exchanged by the close, the third consecutive day that LME copper trading has exceeded 24,000 lots. Despite trading at an intraday low of $5,633 per tonne, copper’s underlying price spent the better part of the trading day comfortably above the $5,700 per tonne resistance...


Hassan Butt

February 05, 2020

18:48 GMT