LIVE FUTURES REPORT 25/02: Tin down 3%, copper drops 2%, LME complex falls on higher US Dollar Index [UPDATED]

London Metal Exchange metals prices were all lower on Friday February 26, following a spike in US 10-year Treasury bonds and a higher US Dollar Index.

Tin and copper futures prices fell from their recent highs amid profit-taking, while nickel dropped below $19,000 per tonne. Yields on the 10-year US Treasury bonds jumped to 1.6% on Thursday before drifting down to 1.43% on Friday morning, but the rise prompted fears in corporate circles that have so far benefited from the Covid-19 pandemic, sending the Nasdaq 100 (composed mostly of tech-heavy entities) down by 3.6%.  “A rising yield suggests that the US economy is coming out of the global health pandemic faster than other countries, however, a rapidly rising yield has sparked concerns and poses a grave threat to the equities market,” Fastmarkets analyst Andy...

Published

Ana de Liz

February 26, 2021

11:14 GMT

London