The three-month copper price on the London Metal Exchange was little moved during morning trading on Friday August 16, with its price action largely unfazed by another fresh inflow of some 31,000 tonnes, while nickel futures held gains above $16,100 per tonne.
The red metal's three-month price was recently trading around $5,752.50 per tonne, mostly unchanged from its Thursday closing price of $5,751 per tonne. Fresh deliveries of copper this week now total more than 60,000 tonnes, the largest inflow since July 5, when a similar amount of copper cathodes were delivered into LME-registered warehouses. More than 40% of this week's inflows were delivered into warehouses across the Korean port of Busan, while over 13,500 tonnes were sent into Rotterdam. LME copper stocks are now at their highest since April 2018...