Base metals showed very little movement in the official session on the London Metal Exchange, with low trading volumes recorded on the day the exchange moved to Essex. Monday’s trade took place at the LME’s disaster recovery site in Chelmsford, Essex. The exchange chose a day that was expected not to see large trading volumes, being a non-LME prompt date and Labor Day in the USA. Traders duly obliged, as all base metal contracts traded within tight ranges on the day. “It’s pretty dull – everything’s slightly higher, but there’s not much movement,” a ring trader said. “It was going to be a quiet day anyway, even if we were back in London.” Three-month copper settled in the official session at $6,310/15 per tonne after opening the day at $6,270 per tonne. The red metal traded no lower than its opening price and reached a high of $6,350 per tonne.Traders...
