MORNING VIEW: Dip buying boosts copper but other metals more wary - broader markets mixed

Markets are looking mixed this morning on Monday August 10, while traders weigh up the cross winds blowing through the markets, Fastmarkets learned.

United States President Donald Trump’s intervention to step in to extend unemployment benefit after Congress failed to come up with a rescue package has provided some support, but his executive orders focused on Chinese tech companies only go further to heighten tension. Asian-Pacific equities were mixed, while pre-market western equity index futures were upbeat. The dollar index is holding on to most of Friday’s gains, which may be a headwind for metals for a while, especially gold. Base metals Three-month base metals prices on the London Metal Exchange were mixed this morning, with copper and aluminium up by 0.8% and 0.1% respectively and copper recently at $6,290 per...


William Adams

August 10, 2020

09:25 GMT