LIVE FUTURES REPORT 01/10: LME copper price plunges 5% in complex-wide sell-off

The three-month copper price on the London Metal Exchange tumbled at the close of trading on Thursday October 1, while the rest of the complex reacted to news that US lawmakers remained at odds over the country’s pandemic relief efforts.

Copper’s outright price on the LME closed at $6,387 per tonne on Thursday afternoon, declining from an intraday high of $6,710 per tonne, while turnover was at its highest since September 24 at over 24,000 lots exchanged by the close. Prompting the decline across the LME base metals complex, US House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin continued to disagreeing over a fiscal stimulus package to fight the effects of the Covid-19 pandemic on the country’s economy, with both sides differing to the...


Hassan Butt

October 01, 2020

17:21 GMT