LIVE FUTURES REPORT 07/05: Copper sets new record; zinc at three-year highs over $3,000/t

Copper's futures price set a new all-time high in afternoon trading on the London Metal Exchange on Friday May 7, with the bullishness also extending to zinc, which rose above $3,000 per tonne for the first time since June 2018, and aluminium.

Three-month copper reached a record high price of $10,435 per tonne on Friday, with volumes traded at over 22,300 lots by 5pm - the most since mid-April.

The contract closed at $10,417 per tonne, marking a rise of 4.5% since the start of the week, and an increase of 16.8% since April 7 when it traded at $8,915 per tonne; 32.5% since January 4 ($7,860 per tonne); and has more than doubled since touching its...

Published

Ana de Liz

May 07, 2021

17:06 GMT

London