MT: Copper sinks to lowest official price since Oct '09 in LME officials
Copper settled at its lowest official price on the London Metal Exchange since October 16 last year on Friday as panic selling persisted across the base metals market. The contract dropped to an official price of $6,260/60.5 per tonne after trading as low as $6,225 per tonne in pre-market trading. The red metal opened at $6,385.50 per tonne, down more than 3% from Thursday’s official price of $6,589.50/90 per tonne. The contract traded no higher than $6,400 by the official session as traders sold off metal amid increasing risk aversion. “It is really looking quite nasty out there – on oil, on copper, on gold – on all three of the most liquid commodities contracts it’s...
