LIVE FUTURES REPORT 27/02: LME copper price dips 1.2%; ali prices remain firm

By Alice Mason / February 27, 2018 / www.metalbulletin.com / Article Link

Base metals prices on the London Metal Exchange were mostly lower at the close on Tuesday February 27, with the dollar index surging to its highest since the start of the month.

The three-month copper price closed 1.2% lower and only just held above $7,000 per tonne. Copper's healthy contango and a lack of market tightness are putting pressure on prices. "We think that copper prices are vulnerable to a consolidation in the next week or so, in part due to a lack of real tightness in the paper and physical markets," Metal Bulletin analyst Boris Mikanikrezai said. "Available stocks continue to go up while LME nearby spreads at the front end of the curve remain fairly loose - the cash/thee month spread has averaged $39 per tonne contango so far this month," he added. Nickel closed $85 lower after...

Recent News

Mixed outlook for gold as it remains range bound for past three months

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on flat metal price

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on metal decline

June 23, 2025 / www.canadianminingreport.com

Huge quantifiable rise in geopolitical, economic and trade risks

June 23, 2025 / www.canadianminingreport.com

Platinum clearly ahead of palladium for first time in seven years

June 16, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok