LIVE FUTURES REPORT 08/04: LME copper price holds above $5,000 despite inflow; nickel tops gains

The three-month copper price on the London Metal Exchange was lower at the close of trading on Wednesday April 8, withstanding a large inflow of 44,000 tonnes and closing above nearby support levels, while nickel was the only metal to close higher over the day.

Copper’s outright price on the LME closed at $5,002.50 per tonne on Wednesday afternoon, falling by less than 1% from an intraday high of $5,053 per tonne, while turnover was moderate at some 11,000 lots exchanged by the close. Yet LME-registered warehouses were subject to a large inflow of 44,000 tonnes of copper split across Bilbao, Busan, Kaohsiung and Rotterdam two days ago, with the LME’s daily stock...


Hassan Butt

April 08, 2020

17:18 GMT