LIVE FUTURES REPORT 19/11: LME complex makes incline; Cu up 1%

Base metals prices on the London Metal Exchange all started Friday November 20 higher on hopes of future infrastructure spending and despite the fact that US Treasury Secretary Steven Mnuchin said the Federal Reserve would not to extend its emergency lending programs to businesses past the end of 2020.

Copper’s three-month price, for example, was up 1% to $7,164 per tonne from Thursday’s closing price, entering its sixth consecutive day above the $7,000-per-tonne mark, which it previously reached in June 2018. 
There was a 2,125-tonne outflow of the red metal from LME warehouse stocks on Friday morning, the majority of which left Rotterdam and New Orleans. 
In Shanghai, the International Energy Exchange's newly launched bonded-copper contract traded 8,344 lots on Thursday and another 4,893 lots on Friday.


Ana de Liz

November 20, 2020

10:26 GMT