LIVE FUTURES REPORT 07/08: LME copper price sinks 3% on news of Codelco restart; lead falls 2%

The three-month copper price on the London Metal Exchange was the laggard at the close of trading on Friday August 7, with news of planned restarts at several of Chilean producer Codelco’s operating facilities suppressing buying momentum.

Meanwhile, lead futures declined by more than 2% but stayed above nearby support levels into the close.
Copper’s outright price on the LME closed at $6,308 per tonne on Friday afternoon, its lowest closing price since July 9. The price fell by more than 3.5% from an intraday high of $6,495 per tonne, but recovered from a daily low of $6,230 per tonne.

Turnover in the red metal was the standout figure, topping the base-metals complex at more than 23,000 lots exchanged...


Hassan Butt

August 07, 2020

17:18 GMT