The three-month copper price on the London Metal Exchange was lower at the close of trading on Thursday October 30, settling below the $5,800 per tonne support level against high turnover, while lead futures also closed below nearby support.
Copper's three-month price closed at $5,797 per tonne on Thursday afternoon, with some 20,000 lots exchanged over the day. The red metal's outright price fell from an intraday high of $5,915 per tonne, with Thursday's close its lowest since October 17.Prompting the downturn, some 24,350 tonnes of grade-A cathodes were delivered into LME-registered warehouses in Rotterdam on October 30, taking the location's total copper stock count to more than 90,000 tonnes. This was the highest stockpile of copper across the LME's warehouse...