The three-month copper price on the London Metal Exchange was higher during morning trading on Monday February 3, with price action improving by 0.5% against strong turnover, while nickel futures also climbed over the morning.
Copper's outright price on the LME was recently at $5,590 per tonne, up from Friday's closing price of $5,567 per tonne, while turnover led the complex over the morning with some 13,150 lots exchanged as of 9:30am London time. China's return to trading after the Lunar New Year celebrations brought fresh buying to copper futures, prompting the uptick in volumes. Concerns over the continued impact of the coronavirus outbreak on the Chinese economy has dampened investment, however. Meanwhile, LME copper stocks remain little moved, with on-warrant material now at 147,350 tonnes. Just 32,800 tonnes of the LME's total...