The London Metal Exchange three-month copper price rose during morning trading on Thursday June 18, breaching nearby resistance levels after a sizable fresh cancellation, while zinc futures maintained Wednesday afternoon's gains in a steady consolidation above $2,000 per tonne.
LME copper's outright price was recently at $5,847.50 per tonne, climbing by over 1% from Wednesday's closing price of $5,770 per tonne, while turnover was moderate at just over 6,000 lots exchanged as of 10am London time. A fresh cancellation of some 12,750 tonnes booked out of LME-registered warehouses in Busan took on-warrant LME copper stocks to a total of 137,900 tonnes and supported the red metal's price.LME copper's forward...