LIVE FUTURES REPORT 18/05: Positive virus sentiment sees broad LME base metals price rally; Cu breaches $5,300/t

Three-month base metals prices on the London Metal Exchange rallied at the close of trading on Monday May 18, with positive risk sentiment emerging from a continued easing of Covid-19 market concerns, while copper, nickel and zinc futures all breached nearby resistance levels.

Copper’s outright price on the LME closed at $5,317 per tonne on Monday afternoon, climbing by more than 2.6% from an intraday low of $5,205 per tonne, while turnover was high at more than 17,000 lots exchanged at the close of trading. Topping gains over the day, LME lead’s underlying price gained 4% over the afternoon, closing at $1,664.50 per tonne, up from an intraday low of $1,602.50 per tonne. Meanwhile, both nickel and zinc breached...

Published

Hassan Butt

May 18, 2020

17:00 GMT

London