MORNING VIEW: Base metals split into two camps

Base metals prices on the London Metal Exchange and the Shanghai Futures Exchange were mixed on the morning of Wednesday September 8. Aluminium, nickel and zinc prices on the LME were holding up well, while copper, tin and lead look more vulnerable.

Federal Open Market Committee member James Bullard said the Federal Reserve should start tapering, which has lifted US treasury yields and the dollar Market participants now focused on whether the European Central Bank (ECB) will signal it is ready to start tapering – the ECB meets on Thursday Base metals Three-month base metals prices on the LME were mixed but little changed this morning with copper ($9,330.50 per tonne) and tin ($31,850 per tonne) down by 0.1% and 0.5% respectively, while the rest were up by an average of 0.2%. The most-active base metals contracts on the SHFE were also mixed with copper, lead and tin down by an average of 0.4%,...

Published

William Adams

September 08, 2021

06:47 GMT

London