LIVE FUTURES REPORT 10/05: LME copper up 2.6% to new high; zinc, aluminium also reach new 2021 peaks

Copper futures contracts on the London metal Exchange continued to reach new all-time highs on strong volumes, while zinc stayed above $3,000 per tonne and with aluminium also hit new year-to-date high readings on the morning of Monday May 10.

Copper reached a new all-time high of $10,747.50 per tonne on Monday morning, before coming down slightly to $10,684 per tonne at 9am.  This was a 2.6% rise from its Friday closing price, at $10,417 per tonne and followed on from a 4.5% increase last week. Traded volumes reached 12,500 lots by 9am - more than half of the total 23,625 lots traded on Friday.  Copper first breached its previous all-time high of $10,190 per tonne, (achieved in February 2011) last Thursday.  Its seven-day average relative strength index - which measures the magnitude of price changes - showed a reading...

Published

Ana de Liz

May 10, 2021

09:25 GMT

London