LIVE FUTURES REPORT 14/10: Weaker US dollar boosts LME base metals prices

London Metal Exchange three-month base metals prices were broadly trading up on the previous day’s close during the morning session on Wednesday October 14, with a weaker US dollar index boosting trade over the period.

The US dollar index was down by a marginal 0.04% at around 93.51 on Wednesday morning, adding additional price support to LME futures prices amid the dip buying interest that has emerged following the September sell-off. The dip-buying activity is the main reason for the recent rebound in LME base metals prices, with a better-than-expected Chinese economic recovery and the expected rising demand for metals increasing bullish investments on the LME. China's new yuan loans were announced at 190 trillion in September, up from 128 trillion the month before, boosting infrastructural projects and subsequently demand for metals. But while fund...

Published

Amy Hinton

October 14, 2020

09:48 GMT

London