Forward prices on the London Metal Exchange made luckluster moves on Thursday February 4, with the upcoming Chinese New Year holiday and a high US dollar index leading to consolidation.
Copper was part of the stable LME cohort, staying broadly unchanged at $7,823 per tonne on Thursday compared with $7,842.50 per tonne at Wednesday's close, albeit on low volumes of just over 10,400 lots exchanged. This comes after copper closed at $7,777 per tonne on Tuesday - the lowest copper has been since December 31. With the Chinese New Year coming up, there is nothing tangible for copper prices to move on but if activity picks up after the Lunar New Year, the price should go up as well, one analyst said.Tin's three-month price fell for a third day in...