LIVE FUTURES REPORT 16/09: LME base metals await FOMC news

London Metal Exchange three-month base metals prices were directionless over the morning on Wednesday September 16, while the market awaits clarification on the potential stimulus packages from the United States Federal Open Markets Committee today.

Buyers continue to approach the complex with caution despite the stronger China industrial production data out on Tuesday, with many sources waiting for more detail on US interest rates. The US Federal Reserve has pledged to keep rates low for a sustained period, which market participants expect to remain capped at 0.25% with no divergent policy to be revealed in today’s announcement. There is a broad expectation, however, that the news could move global commodities markets nonetheless while unemployment, inflation and GDP projections for the fourth quarter of 2020 are released and likely to provide a barometer for forward metal...


Amy Hinton

September 16, 2020

09:33 GMT