Base metals prices on the London Metal Exchange were higher across the board on the morning of Friday December 18, with copper trading above $8,000 per tonne earlier for the first time since 2013.
Infrastructure spending pledges, hopes for more stimulus, falling or low stocks and low Capex levels across the industry for several years all make for a bullish long-term backdrop for the metals. Base metals The three-month base metals prices on the LME were up by an average of 0.7%, led by a 1.2% gain in aluminium ($2,079.50 per tonne), while copper was up by 1% at $7,998.50 per tonne - after having briefly peaked at $8,028 per tonne. Traded volumes have been high, with 13,056 lots traded as of 6.44am London time compared with typical averages of about 6,000 lots around that time of day. The most-traded base metals contracts on...