LIVE FUTURES REPORT 01/07: LME copper holds above $6,000/t; Ni below $12,700/t

The London Metal Exchange three-month copper price held the previous day’s gains, trading up 0.8% to $6,063.50 per tonne during the morning on Wednesday July 1, with ongoing supply concerns and positive China PMI shoring up demand and buoying copper futures.

“Copper advanced on Wednesday. It gained more than 20% in the second quarter, making up for the loss in the first three months of the year,” Marex Spectron’s Ana Stablum said today. “The Chinese economy is rebounding strongly with the Caixin survey for June, focusing on small private firms, rising to 51.2 from 50.7 the prior month. New orders surged above 50 for the first time since January.” Copper inventory movements...


Amy Hinton

July 01, 2020

10:32 GMT