LIVE FUTURES REPORT 04/06: LME copper price clears $5,500 in steady recovery; lead's rise tops complex

The three-month copper price on the London Metal Exchange was higher at the close of trading on Thursday June 4, recovering from a morning slump to breach nearby resistance levels amid low turnover.

Meanwhile, a weaker US dollar index and continued buying interest from Asia kept the base-metals complex supported through the afternoon. This came despite a broad downward revision of the European Central Bank’s (ECB) entire projection horizon. The standout figure was a baseline projection of growth in 2020 gross domestic product (GDP) at -8.7% across the eurozone. That figure was in stark contrast to a positive projection of 0.8% growth, published in March, with ECB president Christine Lagarde suggesting in an afternoon speech that the size of second-quarter contractions will...


Hassan Butt

June 04, 2020

17:02 GMT