Copper's three-month price on the London Metal Exchange was up by more than 1% during morning trading on Thursday March 21, trading back above $6,500 per tonne amid weakness in the dollar index after the US Federal Reserve pledged to hold interest rates for the remainder of the year.
With copper volumes leading the complex at just under 7,000 lots traded by 9:38am London time, buying interest in the red metal has picked up overnight although open interest has fallen by 3,660 positions ahead of the third-Wednesday prompt date this week. Copper stocks on the LME remain close to a decade-low, yet last week's inflow of more than 70,000 tonnes of material has done little to ease the metal's price uptrend, with the price now at its highest since July 2018...