Copper's three-month price on the London Metal Exchange remained low at the close of trading on Thursday May 30, with its price action capped by a sizable inflow into LME-registered warehouses, while US dollar strength and trade tensions continue to hang over commodity investment.
The red metal's three-month price closed the day's trading session at $5,852 per tonne on Thursday May 30. Just under 30,000 tonnes of copper was delivered into a mixed bag of LME-registered warehouses - with around 10,000 tonnes delivered into sheds in Kaohsiung and Rotterdam respectively - taking total LME copper stocks above 200,000 tonnes. In addition, just 7% of copper stocks are now canceled, indicating a high level of cathode availability. Despite bank holidays across Germany, France and Switzerland, volumes traded in copper were strong across European...