LIVE FUTURES REPORT 11/05: LME copper, nickel rebound; zinc above $3,000/t after Monday loss

Base metals' prices on the London Metal Exchange recovered on Tuesday May 11 morning, after falling for the first time since the start of the month on Monday amid a rise in inflation fears for United States equities, which meant the Nasdaq index fell to its lowest since March 31.

Record high copper, steel and iron ore prices, among other commodities, stoked inflation fears and pushed Wall Street lower with the Nasdaq 100 Index shedding 2.6% yesterday [to reach 13,401 points],” Marex Spectron LME Desk analyst Anna Stablum said. 
“[Market] concerns that higher prices will limit an economic recovery intensified [while] inflation expectations moved to their highest since 2006 and took the 10-year Treasury yield curve to 1.6%,” Stablum said.

Indeed, the five-year US Treasury inflation break-even rate, which shows what the expected inflation will...


Ana de Liz

May 11, 2021

09:14 GMT