LIVE FUTURES REPORT 06/04: LME copper price nears $4,900/t; tin gathers momentum

The three-month copper price on the London Metal Exchange was higher during morning trading on Monday April 6, with prices nearing the $4,900-per-tonne resistance level amid low turnover, while the tin price was supported by a fresh outflow.

Copper’s underlying price on the LME was recently seen at $4,892.50 per tonne, climbing from an intra-morning low of $4,841 per tonne. Turnover remains moderately low at 2,000 lots exchanged as of 9:50am London time. Upward price action in copper comes amid a fresh outflow of some 1,050 tonnes from LME-registered warehouses in Trieste this morning. But LME copper stocks remain on an incline and now total 217,475 tonnes. Meanwhile, deliverable tonnage now sits at 176,600 tonnes on-warrant, which is little changed month on month, but up from just 99,900 tonnes at...

Published

Hassan Butt

April 06, 2020

09:45 GMT

London