LIVE FUTURES REPORT 13/10: LME copper price falls despite 12kt fresh cancellation; tin holds gains

The three-month copper price on the London Metal Exchange softened toward the $6,700-per-tonne support level during morning trading on Tuesday October 13, despite another fresh cancelation of 12,150 tonnes, while positive forward spreads and steady trading volumes kept LME tin futures elevated.

The LME copper price was recently trading at $6,715.50 per tonne, down from Monday’s closing price of $6,737.50 per tonne, while turnover was moderate at 7,140 lots exchanged as of 11am London time. The move down for copper came despite a fresh 12,150-tonne cancellation from warehouses in New Orleans. This takes total fresh cancellations from the region to 24,100 tonnes this week. Deliverable LME copper stocks held in New Orleans now stand at just 3,025 tonnes, while total LME...

Published

Hassan Butt

October 13, 2020

10:57 GMT

London