LIVE FUTURES REPORT 06/01: Copper breaches $8,100/t on Las Bambas export disruption, low US dollar index

Copper rose to a near eight-year high during morning trading on the London Metal Exchange on Wednesday January 6 on news about an output delay from the Las Bambas mine in Peru and anticipation over the results of the Georgia run-off senate elections.

Copper’s three-month price climbed to $8,130 per tonne at 9am on Wednesday, a 1.6% increase from its Tuesday 5pm closing price of $8,002 per tonne.
The red metal’s forward price overtook its 2020 high of $8,028 from December 18 to reach levels that had not been seen since February 20, 2013, when prices rose as high as $8.099.50 per tonne.

The copper price reacted to news out of Peru, where copper concentrate shipments from MMG’s Las Bambas mine...

Published

Ana de Liz

January 06, 2021

10:43 GMT

London