Base metal prices rose on the London Metal Exchange by the close on Tuesday December 11, with copper acting as the best performer among the complex.
Specifically, the three-month copper price surged by 1.3% to close at $2,590 per tonne. "LME copper continues to run rather positive micro-dynamics. Total LME stocks continue to see drawdowns, with net holdings edging to a fresh 2018 low of 122,500 tonnes," Fastmarkets analyst Andy Farrida said in a research note, adding that expected tightness will provide a bullish backdrop for the red metal. The three-month zinc price also increased to $2,590 per tonne, up by 0.6% from a day ago, while the cash to...