LIVE FUTURES REPORT 1/12: LME complex up on positive East Asia data, low US index

Copper and aluminium continued their uptrend on Tuesday December 1 and taking the complex on a morning of gains while the LME continues to react positively to Chinese and Eastern Asian economic data and a weaker US dollar index.

Copper’s three month price was up to $7,673 per tonne at 9:15am on Tuesday, a 1.2% increase from Monday’s 5pm closing price of $7,580 per tonne.  The volumes of copper traded on the LME returned to more normal levels over the moring, with 6,585 lots traded just after 9am, compared to the 14,000 lots exchanged at the same time on Monday.  Copper had a euphoric start to the week on Monday and hit $7,708 per tonne during the day - the highest intraday price since March 25, 2013 - with its three-month price up 12.7% over November.  A low US dollar and positive Chinese economic data supported base metals'...

Published

Ana de Liz

December 01, 2020

10:35 GMT

London