LIVE FUTURES REPORT 19/04: LME copper price up 2%; tin breaches $27,000/t

Copper’s London Metal Exchange three-month price continued on the upside with a rise to $9,415 per tonne on the morning of Monday April 19, while tin’s price was also up 1.6% and nickel’s futures undid its Friday gains.

The copper price rose by 2.2% gain on Monday morning from $9,211 per tonne at 5pm on Friday, which itself was a 3.9% gain from last Monday’s closing price of $8,861 per tonne.

Open interest in copper jumped by 0.9% on Monday to 378,349 contracts, and was at its highest since March 25, suggesting that the upward move was mostly driven by fresh buying, Fastmarkets analyst Boris Mikanikrezai said in a morning note.

“The LME three-month copper price has broken above the 20-day moving average, producing a positive swing in sentiment. Even though prices look...

Published

Ana de Liz

April 19, 2021

09:03 GMT

London