The London Metal Exchange three-month copper price approached May 2012 levels and tin's futures contract was up by 1% on Tuesday February 16 morning, while a lower US dollar index helped the rest of the metals start to consolidate on their recent gains.
The red metal reached $8,437 per tonne during early trading, its highest since May 2012 and up just 0.5% from Monday close price of $8,393.50 per tonne. Copper's price held around the recent high at $8,417 per tonne at the 9am open, which showed a further 525-tonne decrease to LME stock levels, totaling 73,725 tonnes - still at their lowest levels since last September. One of the world's largest copper miners BHP Group boosted the LME three-month copper price after releasing its results. The company raised its...