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Copper sell range as financiers assess Fed rate-cut outlook

Copper prices were stuck in a narrow range on Monday, as financiers examined the U.S. interest rate cut outlook and demand from top customer China.

Three-month copper on the London Metal Exchange nudged up 0.1% to $9,245.50 per metric load by 0131 GMT, after posting a minor gain in August, with increasing possibility of a. September rate cut.

The most-traded October copper contract on the Shanghai. Futures Exchange dipped 0.2% to 73,860 yuan. ($ 10,417.49) a load.

The dollar was holding on to gains made on Friday after. positive costs figures led markets to trim the opportunity of a. half-point easing from the Federal Reserve.

A strong dollar makes it more expensive to buy the. greenback-priced commodity and thus weighs down metals prices.

Important for the Fed will be the payrolls report later on this. week.

Also weighing on the marketplace was need from China. Copper. stocks have declined in current weeks after lowered prices. encouraged buying, also with a standard good autumn season.

LME aluminium edged 0.1% lower to $2,445 a lot,. nickel slid 0.7% to $16,650, zinc moved 0.7%. lower to $2,877, lead increased 0.5% to $2,063 and tin. lost 0.9% at $32,055.

SHFE aluminium slipped 0.5% to 19,650 yuan a ton,. lead gained 0.2% to 17,330 yuan, while nickel. fell 2.7% to 127,960 yuan, zinc cut 0.9% lower to. 23,815 yuan and tin lost to 260,290 yuan.

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(source: Reuters)