The rest of the base metals complex similarly depreciated over the day’s trading.
Copper’s outright price on the LME closed at $5,290.50 per tonne on Monday afternoon, losing more than 3.5% of its underlying price and tumbling from an intraday high of $5,436.50 per tonne.
Turnover in the red metal was especially high, with many investors reducing exposure to risk assets including commodities, with some 29,200 lots of copper exchanged over the day. LME copper has averaged more than 29,000 lots per day since March 12.
Meanwhile, open interest in LME copper increased by more than 8,000 positions overnight, with total open...