BASE METAL : MCX Nickel, Copper and Zinc All Target Hit. Copper rose to a near eight-year high during morning trading on the London Metal Exchange on Wednesday January 6 on news about an output delay from the Las Bambas mine in Peru and anticipation over the results of the Georgia run-off senate elections.
MCX NICKEL – 1393 To 1310.60
MCX COPPER – 617 To 625.35
MCX ZINC – 222.40 To 223.70
MCX LEAD – 161.10 To 161.70
Copper’s three-month price climbed to $8,130 per tonne at 9am on Wednesday, a 1.6% increase from its Tuesday 5pm closing price of $8,002 per tonne.
The red metal’s forward price overtook its 2020 high of $8,028 from December 18 to reach levels that had not been seen since February 20, 2013, when prices rose as high as $8.099.50 per tonne.