Comex copper prices are trading at a mid-August low with the latest rally nearly extinguished following a rash of technical selling.

Base metals prices on the London Metal Exchange dipped lower again this morning, Wednesday September 13, with copper and zinc prices coming under increased pressure from further large stock deliveries.

Base metals prices on the London Metal Exchange are down across the board by an average of 0.6% this morning, Wednesday September 13. Three-month nickel prices lead the decline with a 1.6% drop to $11,730 per tonne, while tin prices are little changed and the rest are down by between 0.4% for copper ($6,643 per tonne) and 0.8% for lead ($2,291 per tonne).

Since the London Metal Exchange was bought by Hong Kong Exchanges & Clearing (HKEX) in 2012, it is safe to say that that the post-sale environment and progress has not been plain sailing – so 2017’s far-reaching consultation and Strategic Pathway has a lot riding on it.

Base metals prices were looking to be base-building and consolidating during London Metal Exchange pre-market trading on Tuesday September 12, although further downside pressure was evident as corrective sales were sustained, traders said.

Base metals prices on the London Metal Exchange are heading lower again by an average of 0.6% this morning, Tuesday September 12. Three-month nickel prices lead the way with a 1.6% drop to $11,645 per tonne, copper and tin prices are off by 0.6%, with copper at $6,709 per tonne, while the rest are off by between 0.2 and 0.3%. Volume has been average at 5,750 lots.

Comex copper prices recovered in US morning trading on Monday September 11 after hitting a two-week low late last week amid technical selling and weaker-than-expected Chinese data.

Base metals prices on the London Metal Exchange were higher across the board in the UK morning on Monday September 11 after prices recovered from a day of sharp corrections on Friday.

Comex copper prices were poised to finish the week on a bleak note with prices hitting a two-week low on profit-taking.

Base metals prices on the London Metal Exchange continued to dip lower this morning, Friday September 8, as copper prices fell 1.2%.