LIVE FUTURES REPORT 05/06: LME base metals prices rallied by ECB stimulus; copper clears $5,600/t

Base metals prices on the London Metal Exchange were collectively higher during morning trading on Friday June 5, supported by stimulus measures announced by central banks, including copper which reached a three-month high due to an uptick in risk appetite across the commodities sector.

Copper’s outright price on the LME was recently at $5,627 per tonne, up by more than 1.8% from Thursday’s closing price of $5,533 per tonne. Trading has been strong at more than 8,000 lots exchanged by 9:45am London time. In addition to the improved risk appetite, a fresh outflow of 4,525 tonnes of copper from LME-registered warehouses predominantly in Busan and Kaohsiung was a tailwind for the three-month price, while a simultaneous...

Published

Hassan Butt

June 05, 2020

10:29 GMT

London