LIVE FUTURES REPORT 12/02: Low liquidity nudges LME copper price up; nickel holds above $13,000

The three-month price of copper on the London Metal Exchange edged higher at the close of trading on Wednesday February 12, staying firmly above the $5,700 per tonne support level despite low turnover, while nickel similarly held above nearby support.

Copper’s outright price on the LME closed at $5,764 per tonne on Wednesday afternoon, falling from an intraday high of $5,783 per tonne but topping Tuesday’s closing price of $5,725 per tonne. Yet despite positive trading, turnover for LME copper was at its lowest since January 20 at just 11,743 lots exchanged by the close. This was down from some 17,014 lots traded on Tuesday and far from the 2020 year-to-date high of 27,256 lots traded on February 4. Supporting...

Published

Hassan Butt

February 12, 2020

19:52 GMT

London