Latest News

Base metals rise on weaker dollar, moderate United States inflation information

A lot of base metals rose on Monday, buoyed by a weaker dollar and mild U.S. inflation data, restoring some wish for more policy easing by the Federal Reserve next year.

A report from the U.S. Commerce Department on Friday revealed moderate month-to-month price boosts and the tiniest gain in underlying inflation in six months, relieving some issues about the speed of U.S. rate cuts in 2025.

The three-month copper on the London Metal Exchange (LME). rose 0.5% to $8,982 per metric load by 0331 GMT, while. the most-traded January copper contract on the Shanghai Futures. Exchange (SHFE) gained 0.7% to 74,210 yuan ($ 10,168.40). a load.

The individual consumption expenses cost index - the. Fed's preferred inflation gauge - added 0.1% in November after. an unrevised 0.2% gain in October.

But in the 12 months to November, the PCE index advanced. 2.4%, compared with a 2.3% increase in the year to October. However, it remained below the anticipated 2.50% rise.

The integrated cost movements in the base metals sector. today show that macroeconomic factors are now in control, a. trader said.

Meanwhile, the dollar declined from its two-year high peak. last week and stayed stable on the day.

A weaker dollar makes it less costly for other currency. holders to purchase greenback-priced commodities, supporting costs.

LME aluminium increased 0.7% to $2,551.5 a load, nickel. increased 0.9% to $15,490, zinc climbed up 0.8% to. $ 2,994, tin added 1.4% to $29,100 and lead. gotten 0.9% to $1,998.

SHFE aluminium increased 0.4% to 20,000 yuan a heap,. nickel rose 2.1% to 125,000 yuan, zinc climbed. 0.2% to 25,995 yuan, lead innovative 1.5% to 17,615 yuan. and tin firmed 1.5% to 245,050 yuan.

For the top stories in metals and other news, click. or.

(source: Reuters)