MORNING VIEW: LME copper price up, others weaker against complicated background

Base metals prices were mainly lower across both the London Metal Exchange and the Shanghai Futures Exchange on Tuesday September 28, the exception was LME copper.

Oil prices extend gains; spot Brent crude approaching $80 per barrel. US 10-year treasuries yields push through 1.5%. Base metals The three-month copper price on the LME was up by 0.3% at $9,376.50 per tonne and seemed buoyant this morning, while the rest of the complex were showing varying degrees of weakness and were down by an average of 0.6%, led by a 1.1% fall in nickel to $18,680 per tonne. The most-active base metals contracts on the SHFE were weaker across the board by an average of 1.9% while the complex followed the general weakness seen across the LME base metals on Monday, when the LME complex closed down by an average of 1.3%. Copper...


William Adams

September 28, 2021

07:25 GMT