The three-month copper price on the London Metal Exchange was the only base metal to close in positive territory on Thursday February 22, with the rest of the complex caught in a sell-off.
"Through the afternoon sessions, and with the US dollar lower again, upward momentum was maintained and some prices recovered broadly to yesterday's levels." Sucden Financial noted. Copper dipped as low as $7,003.50 per tonne earlier today, a one-week low, but recovered when the dollar turned weaker during afternoon trading. It was down 0.46% lower at 89.70, down from the day's high of 90.24."Despite the less positive macro and micro-dynamics in the short term, the pullback in the LME copper price is still orderly, suggesting that overall sentiment toward copper...