The London Metal Exchange three-month copper price was trading down 4.7% during the morning session on Wednesday March 18, with a second day of inflows into LME-approved global warehouses continuing to heap pressure on prices.
Some 15,000 tonnes of copper was put back into global sheds as of 9am this morning - 8,800 tonnes of which arrived into Rotterdam while the remaining 6,200 tonnes was split between Asian sheds. Just 2,175 tonnes of material was outgoing at the same time.A considerable 42,900 tonnes was delivered onto the LME yesterday and copper futures have reacted accordingly to trade this morning at around $4,902 per tonne - well below the psychological level of $5,000 per tonne and down from yesterday's $5,144 per tonne close.The LME three-month nickel price shed a lesser 1.3% to trade at around...