Copper trades above $7,000/t after analysts tout 'green' prospects at LME Week

London copper futures broke above $7,000 per tonne for the first time since early 2018 on Wednesday October 21, with the wire-making metal's green credentials being touted as bullish for future demand at the virtual LME Week forum.

The London Metal Exchange's three-month copper contract traded at a high of $7,027 per tonne in afternoon trading on Wednesday October 21, its highest level since June 15, 2018.
The rising copper prices came on a day when the US dollar index was down by 0.57%, boosting prices of other dollar-denominated metals, including lead and aluminium.

In addition, the rising yuan is expected to give consumers...


Archie Hunter

October 21, 2020

15:28 GMT