LIVE FUTURES REPORT 24/11: Copper, nickel out front as base metals rebound

London Metal Exchange three-month base metals prices rebounded on Tuesday November 24, with copper and nickel leading the way after a correcting session resulted in across-the-board declines on Monday.

Copper and nickel led the way with day-on-day increases of more than 1.5% on their three-month prices. Prices were also supported by a lower US dollar index, which fell to 92.30 at around 5pm on Tuesday - a 0.3% decrease from its Monday closing price.
The red metal’s closing price was up by 1.66% to $7,293 per tonne at 5pm on Tuesday, close to the 2020 high of $7,331 per tonne that it hit in the morning session and a few dollars away from surpassing the June high of $7,348 per tonne.

The International Copper Study Group (ICSG) reported on Monday that the global market showed a 72,000-tonne deficit in August, down from the...


Ana de Liz

November 24, 2020

19:53 GMT