Copper prices on the London Metal Exchange closed 2% higher on Tuesday September 18, while the base metals complex shrugged off the escalating US-China trade dispute.
The three-month copper price closed at $6,086 per tonne on strong volume, with over 26,000 lots traded by the close - the most in a month. "Fundamental indicators have improved since the start of the quarter. Exchange inventories (LME, SHFE, Comex) are down sharply in the quarter to date. The Shanghai copper premium is at its highest since February 2016, reflecting seasonally strong copper demand because of post-summer restocking," Boris Mikanikrezai, Metal Bulletin analyst said. Copper prices are also supported by falling LME stocks - with stocks down nearly 20% so far this month at 214,150 tonnes. "Holdings in the...