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Report on IIF New Building Inaugural Brief Report of 67th Indian Foundry Congress Inauguration of Faridabad Chapter of The Institute of Indian Foundrymenat MRIIRS on 29th October, 2018

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LME copper price up1.5%; zinc stages recovery
Date: 09-04-2019 00:00:00

Copper’s three-month price on the London Metal Exchange had gone up by the close of trading on Monday April 8, once again trading at more than $6,500 per tonne over the afternoon, while a marginal dip in the US dollar index helped zinc’s three-month price recover to more than $2,900 per tonne. Volumes traded in copper topped the complex over the day, with more than 13,000 lots changing hands by the close, while an inflow of more than 30,000 tonnes last week caused the metal’s three-month price to fall by 2% to $6,400 per tonne. The red metal’s cash price closed at $6,475 per tonne in the afternoon, than its three-month indication, with its cash/three-month spread recently seen in a contango of $15.25 per tonne. Meanwhile, the LME’s on-warrant copper material was just over 176,300 tonnes, up by more than 87% month on month.

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