Copper slips today on the London Metal Exchange but manages to stay above US $ 4 a pound – Energiminas

The price of copper has slipped today on the London Stock Exchange although it has managed to stay above US $ 4 a pound. The commodity it closed down 1.08%, trading at US $ 4,035 a pound and US $ 8,895.00 a ton, which compares with US $ 4,079 a pound on Monday and US $ 4,092 a pound on Friday.

The average of the red metal so far this year continues to rise, reaching US $ 3,783 a pound, Cochilo reported. After once again overcoming the psychological barrier of US $ 4 a pound, the market is expectant as to whether the price of the red metal will be able to remain at those levels in the short and medium term.

Copper inventories in the three metal exchanges registered a weekly rise of 40,568 MT (6.4%) last Friday. This, mainly, due to an increase in warehouses on the Shanghai Futures Exchange, which registered an increase of 10.2%. So far this year, refined copper inventories in metal exchanges accumulate an increase of 15.3% compared to the end of 2020.

–