The three-month copper price on the London Metal Exchange was lower at the close of trading on Wednesday October 9, remaining below the $5,700 per tonne resistance level amid thin volumes, while forward spreads in nickel tightened over the afternoon.
Copper's outright price closed at $5,684 per tonne in the afternoon, keeping below nearby resistance while volumes traded were moderately low at just more than 11,200 lots exchanged by the close, down from over 17,000 lots traded on Tuesday.The price of the red metal has edged lower over October, with copper's LME price beginning the month higher than $5,800 per tonne, before reaching a five-week low of $5,606 per tonne on...