The London Metal Exchange three-month copper price gained the most on the morning of Monday February 8 with the rest of the base metals complex trading sideways from their prices on Friday, when a dip in the dollar led to an upsurge in futures prices.
The three-month copper price was up 0.9% at $7,984.50 per tonne at 9am, after a rise of 1.1% on Friday's 5pm close to $7,912.50 per tonne. There was an outflow of 1,975 tonnes of the metal on Monday morning from LME warehouses, largely taken out of Rotterdam (1,100 tonnes) and Bilbao (725 tonnes). Open interest in copper futures went above 400,000 for the first time since September 2020, rising also by 0.9% to 400,079. The dollar index remained close to the level it held on Friday, when it settled...