The three-month copper price on the LME climbed by just over 1% on Thursday April 23 to settle at its highest level since April 14, while nickel futures gained ground in the afternoon despite low turnover.
Copper's outright price on the London Metal Exchange closed at $5,160.50 per tonne on Thursday afternoon, gaining some $30 per tonne from Wednesday's closing price, while turnover in the red metal was moderately low with just over 12,000 lots exchanged by the close.The firmer price action in LME copper was supported by a host of production results from the likes of Anglo American, Antofagasta and MMG, the latter opting to cut production by as much as 20% amid continued concerns over the Covid-19 pandemic.
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