London Metal Exchange three-month base metals prices were upbeat during morning trading on Tuesday October 27, recovering from broad consolidation on Monday ahead of Chinese policy meetings scheduled this week, while LME copper futures struggled to breach nearby resistance despite steady volumes.
LME copper's outright price was recently trading at $6,785.50 per tonne on Tuesday morning, declining from a high of $$6,816 per tonne yet little changed from Monday's closing price of $6,781 per tonne. Turnover in LME copper was moderate but led the complex with some 3,400 lots as of 9:35am London time. This came amid an outflow of some 2,550 tonnes out of LME-registered warehouses, with removals split across sheds in New Orleans and Rotterdam.Meanwhile,...