LIVE FUTURES REPORT 30/04: LME copper price holds above $5,200/t; aluminium sinks below $1,500/t

The three-month copper price on the London Metal Exchange held on to support above $5,200 per tonne during morning trading on Thursday April 30, while a fresh cancellation of 10,000 tonnes did little to support aluminium futures prices.

The LME three-month copper price was recently at $5,251.50 per tonne, but has traded as high as $5,294.50 per tonne over the morning, while turnover remained thin at just over 6,000 lots exchanged as of 10am London time. Steady buying in the red metal over the week has brought the LME price up from a week-low of $5,153.50 per tonne and more than 6% higher than the sub-$5,000 per tonne levels in mid-April. Supporting this, LME copper’s benchmark cash/three-month spread remains wide, recently...

Published

Hassan Butt

April 30, 2020

10:59 GMT

London