MB: LME copper rises on weaker dollar, firmer equities
Copper prices rose in premarket trading on the London Metal Exchange on Tuesday as momentum picked up on a weaker dollar and firmer equity markets.
Three-month copper opened at $4,549.75 per tonne before climbing to a high of $4,655 per tonne by 10:21 BST.
This compares with Monday’s official price of $4,415/20 per tonne.
“The weaker dollar and the firmer Dow [Jones] are helping this morning,” a category I trader told MB.
Another stock outflow also lent support to the red metal. Copper stocks fell a net 4,725 tonnes overnight, taking total inventories in LME-approved...
