Base metals prices on the London Metal Exchange were mostly higher during morning trading on Friday February 16 with prices holding firm near fresh 2018 high levels.
The three-month copper price has rallied back above $7,200 per tonne with the rally underpinned by a weaker dollar - the dollar index is now back below 89.00. Copper is now trading just $10 off its 2018 high of $7,262 per tonne - but trading volumes remain thin as Chinese participants are out of the market for New Year celebrations. If copper breaches $7,270 per tonne it will set a new four-year high. "We remain bullish on the back of concerted global growth combined with a constrained producer supply response following the capital expenditure cuts seen between 2012 and 2015," Metal Bulletin analyst William Adams said. "Trading during the Lunar New Year holidays is likely to...