LIVE FUTURES REPORT 16/06: LME base metals edge higher; tin vulnerable

Base metals prices on the London Metal Exchange were broadly higher this morning, Friday June 16, with only tin bucking the trend.

Three-month copper and aluminium prices edged slightly higher, consolidating at current levels. Nickel performed strongly this morning, up $125 per tonne, as zinc and lead also gained. The announcement this week of a 25 basis points increase in the Federal Funds rate was a move markets had largely priced in. The Fed also announced details of its plan to trim its balance sheet. “Despite the dollar's reaction to the FOMC [US Federal Open Market Committee] statement, the market still prices just under a 50% chance of another rate increase by December […],” NAB Market Research said on Friday. Market participants will now await the...

Published

Alice Mason

June 16, 2017

10:35 GMT

London