The three-month copper price on the London Metal Exchange continued its uptrend during morning trading on Tuesday April 9, trading firmly above $6,500 per tonne amid easing trade tensions and a marked slowdown in the dollar index surge.
Volumes traded in the red metal top the complex so far this morning, with 5,440 lots changing hands as of 9:20am London time. Zinc's trading volume was just behind, with 4,571 lots exchanged. Marginal copper inflows of around 725 tonnes into LME-listed warehouses in Rotterdam and Port Klang this morning did little to cool copper's price rise, with three-month price action in the red metal up by 2% from last Friday's closing price of $6,400 per tonne. "Yesterday was rather contrarian with the metals prices moving up against a background of poor economic data...