LIVE FUTURES REPORT 30/06: Chile production woes push LME copper above $6,000/t

The London Metal Exchange three-month copper price rose during morning trading on Tuesday June 30, surpassing resistance at $6,000 per tonne against a narrowing forward curve, while nickel futures maintained gains made on Monday.

LME copper’s outright price was recently at $6,001 per tonne, up from Monday’s closing price of $5,961.50 per tonne, while turnover was moderate at just over 6,200 lots as of 10am London time. 
The LME three-month copper price has not closed above the $6,000-per-tonne threshold since January 23. 

Production concerns at the world’s largest copper producer Codelco’s Chuquicamata smelter and refinery in the Antofagasta region of Chile remain a key tailwind for copper prices, with the production facility still closed amid a recent outbreak of...


Hassan Butt

June 30, 2020

11:05 GMT