LIVE FUTURES REPORT 04/06: LME copper price clears $5,500 in steady recovery; lead's rise tops complex

June 05, 2020 / www.metalbulletin.com / Article Link

The three-month copper price on the London Metal Exchange was higher at the close of trading on Thursday June 4, recovering from a morning slump to breach nearby resistance levels amid low turnover.

Meanwhile, a weaker US dollar index and continued buying interest from Asia kept the base-metals complex supported through the afternoon.This came despite a broad downward revision of the European Central Bank's (ECB) entire projection horizon. The standout figure was a baseline projection of growth in 2020 gross domestic product (GDP) at -8.7% across the eurozone.That figure was in stark contrast to a positive projection of 0.8% growth, published in March, with ECB president Christine Lagarde suggesting in an afternoon speech that the size of second-quarter contractions will...

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