LIVE FUTURES REPORT 18/05: LME copper price drops to $9,200/t amid broad-based declines

Most London Metal Exchange base metals prices continued to tumble on the morning of Friday June 18, with copper’s three-month price heading for its worse weekly fall since the start of the pandemic, while nickel rebounded on dip-buying.

Copper has entered its fifth day of decline, opening at $9,250 per tonne on Friday at 9am, down from Thursday’s closing price of $9,315 per tonne. Yesterday’s 5pm price was down by 3.6% from Wednesday.

“[The copper price] is set for a weekly drop of 7.3% - the most since the pandemic hit world markets in mid-March last year - as the US Federal Reserve hiked its inflation forecast and signaled two rate hikes in...

Published

Ana de Liz

June 18, 2021

08:48 GMT

London