Bullish sentiment continued to drive trading on the London Metal Exchange on Friday February 19, with copper, nickel and tin rising again to new highs, even as potential headwinds start to emerge for the base metals complex.
Copper's three-month price extended to $8,737 per tonne on Friday morning, its highest in nine years. By 9am, it was at $8,720 per tonne, 1.95% higher than its Thursday closing price of $8,553 per tonne. Having started the week at $8,393.50 per tonne on Monday at the close, the red metal's forward price is up for a 4% increase this week. Around 14,800 lots of copper had traded by 9am and with higher volumes seen across the board for LME metals, trading has been boosted since Thursday...