LIVE FUTURES REPORT 23/06: LME prices buoyed for 3rd day; more aluminium warrants canceled

Base metal prices on the London Metal Exchange continued to edge up on the morning of Wednesday June 22, with comments by the United States Federal Reserve chairman on future actions by the central back easing tapering concerns.

“To reassure the markets, US Federal Reserve chairman Jerome Powell said: ‘We will not raise interest rates pre-emptively because we think employment is too high [or] because we fear the possible onset of inflation.’ So far, his words seem to be working,” Fastmarkets head of base metals and battery research, William Adams, said in a morning note.
The three-month copper contract on the LME was at $9,345 per tonne at 9am on Wednesday, up by $44 per tonne from Tuesday’s closing price.

Nickel was at $17,825 per tonne,...


Ana de Liz

June 23, 2021

09:52 GMT