LIVE FUTURES REPORT 30/06: Copper tumbles 8.5%, aluminium up during June

Copper’s three-month price has shown the biggest fall during June among base metals on the London Metal Exchange, rocked by Chinese announcements and rising inventories, while the prices of other base metals such as aluminium and tin were higher than on June 1.

Copper’s price was $9,374.50 per tonne on Wednesday June 30 at the close of trading, falling from $10,245 per tonne on June 1.
Among the factors behind this were numerous announcements from Chinese officials, starting in late May, in regards to the high levels that copper’s price has achieved since the start of the year.

This statement was followed by action, when the East Asian country’s National Food & Strategic Reserves Administration said that it intended to sell copper, aluminium and zinc from the country’s reserves into the market in an attempt to quell prices.
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Published

Ana de Liz

June 30, 2021

16:45 GMT

London