LIVE FUTURES REPORT 03/06: LME copper down 3.5% on selloff prompted by stronger dollar

June 04, 2021 / www.metalbulletin.com / Article Link

Positive employment data from the United States boosted the Dollar Index to its highest level since mid-May and triggered a selloff on the London Metal Exchange on Thursday June 3, with most metals' prices going down by 2-3%.

Copper's three-month contract on the LME was most affected on Thursday, with its closing price falling by 3.5% to $9,788.50 per tonne at the 5pm close, from $10,147 per tonne on Wednesday.
Copper's intraday low of $9,762 per tonne was the metal's lowest price since the last week of April. Strong selling was confirmed by the metal's volumes, which showed 23,600 lots traded by 5pm, its highest since mid-May.

Zinc's three-month price was also affected, with a 3.2% decrease to $2,984.50 per tonne...

Recent News

Gold stocks rocket to new highs, valuations no longer inexpensive

August 11, 2025 / www.canadianminingreport.com

Tariff issue caused by potential definition change of traded gold bars

August 11, 2025 / www.canadianminingreport.com

US BLS head removed after revisions to employment data

August 04, 2025 / www.canadianminingreport.com

Gold stocks down even as metal price rises

August 04, 2025 / www.canadianminingreport.com

Copper market distortions driven by new US tariff policies

July 28, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok