LIVE FUTURES REPORT 13/08: Copper leads prices downward as market rally runs out of steam

London Metal Exchange copper futures fell toward the 5pm close on Thursday August 13, failing to stabilize above the level of $6,400 per tonne.

The LME’s 3-month copper price closed at $6,256 per tonne, down by $176 per tonne from Wednesday’s close, to the lowest since last Friday.
Tumbling three-month prices have exacerbated a backwardation in the nearby forward curve. The cash/three-month spread was now $7.50 per tonne backwardated, compared with $2 per tonne on Wednesday.



Archie Hunter

August 13, 2020

17:16 GMT