LIVE FUTURES REPORT 29/04: Copper, zinc reach multi-year highs; higher dollar hinders closing prices

The three-month price of copper breached the $10,000-per-tonne mark on the London Metal Exchange during trading on Thursday April 29, while zinc and aluminium also reached fresh year-to-date and multi-year highs, driven by overall bullish sentiment.

Most metals set their new highs during early trading, when the US Dollar Index was around its two-month low of 90.47 on Thursday morning. But when the index rose slightly to 90.70 by the afternoon, some metals fell away from their highs.
Copper’s intraday peak on Thursday was $10,008 per tonne, just short of its all-time high of $10,190 per tonne from February 2011.
The red metal’s closing price of $9,885 per tonne, however, was not much changed from Wednesday’s 5pm price of $9,876 per tonne.

Copper’s advance...

Published

Ana de Liz

April 29, 2021

17:08 GMT

London