The three-month copper price on the London Metal Exchange consolidated higher during morning trading on Monday June 29, although it remained firmly below the $6,000 per tonne threshold.
Copper's outright price on the LME was recently at $5,956.50 per tonne, up from a morning low of $5,924 per tonne, but firmly below the $6,000 per tonne threshold, despite spiking above the resistance level on Friday. Turnover was moderate over the morning, with some 7,000 lots of copper exchanged as of 9:55am London time. Stock drawdowns and fresh cancelations continue for copper, with an outflow of 4,675 tonnes this morning predominantly booked out of registered warehouses in Busan, while a further 5,000 tonnes was freshly canceled in Rotterdam. This takes total LME on-warrant...