LIVE FUTURES REPORT 14/05: LME ends week of multi-year highs on softer prices

Copper’s price on the London Metal Exchange ended the week lower despite hitting an all-time record high on Monday May 10, with the rest of the complex was also down on the week despite slight rises day on day on Friday.

The three-month copper price was down at $10,240 per tonne on Friday May 14 at the close, which is some 1% lower than Thursday’s 5pm price of $10,342 per tonne.

Copper traded at a new historical high on Monday of $10,747.50 per tonne, “as speculative money pushed the price over $850 higher in three days,” Neil Welsh, metals broker at Britannia Global Markets, noted.

While the red metal was down by 1.4% since the start of the week and down 4.7% from its all-time-high, at above $10,000 per tonne, the price is still trading at the most since...

Published

Ana de Liz

May 14, 2021

16:37 GMT

London