The three-month copper price on the LME was higher at the close of trading on Wednesday April 29, staying firmly above nearby support levels despite only average turnover, while tin futures showed some weakness over the afternoon.
Copper's outright price on the London Metal Exchange closed at $5,273 per tonne on Wednesday afternoon, climbing from an intraday low of $5,197 per tonne, while turnover stood at just over 12,500 lots exchanged by the close. Wide forward spreads and strong availability of free-floating LME copper warrants have kept interest in the red metal high, but open interest has dwindled for the LME copper market, with some market participants confident price volatility could persist. Total...