Improved market sentiment due to the containment of Covid-19 across the United States and Europe boosted buying momentum in copper and pushed the three-month copper price higher during morning trading on Tuesday April 7.
Copper's outright price was recently at $5,074.50 per tonne, climbing more than 3% from an intra-morning low of $4,937 per tonne, while trading volumes topped 10,000 lots as of 9:40am London time. This comes despite minimal stock moves for copper on Tuesday morning. Just 925 tonnes were removed from LME-registered warehouses in Trieste, while a fresh cancellation of 1,500 tonnes was recorded across warehouses in New Orleans and Moerdijk....