LIVE FUTURES REPORT 24/04: LME base metals prices shrug off dollar surge

Base metals prices on the London Metal Exchange consolidated at the close of trading on Wednesday April 24, largely unaffected by a year-to-date high in the US dollar index, while three-month tin futures continued to face downward pressure.

The US dollar index, which is measured against a basket of six foreign currencies, traded at a high of 97.84 and reached its highest level since May 2017 during the afternoon. Yet the spike had little effect on base metals prices, with copper futures showing notable gains during the afternoon session and closing at $6,448 per tonne, up by 0.5% from Tuesday’s closing price. The red metal’s traded volumes also topped the complex at settlement, although only 11,578 lots changed hands by the close,...

Published

Hassan Butt

April 24, 2019

18:15 GMT

London