LIVE FUTURES REPORT 15/09: LME base metal price gains capped by US Fed trepidation

Recent gains in London Metal Exchange three-month base metals prices stalled at the close on Tuesday September 15 after consumer jitters set in ahead of the following day’s United States Federal Reserve meeting.

A slew of better industrial data from China failed to offer price support while a stronger dollar index, trading up 0.19% at around $93.12 during the afternoon session was an effective headwind, capping upward momentum across the complex. Chinese industrial production rose to 5.6% in August from 4.8% previously while that of the US dropped significantly to 0.4% over the period from 3.5%. “Risk sentiment has generally remained friendly since the start of the trading week, with news on vaccine development and better-than-expected Chinese industrial and retail data. These are supporting higher prices across LME base metals. But...

Published

Amy Hinton

September 15, 2020

16:38 GMT

London