LIVE FUTURES 16/09: Nickel down 3.1%, copper down 2.7% with dollar at 3-week high

London Metal Exchange base-metals prices were mostly lower at the 5pm close of trading on Thursday September 16, with a rise in the US dollar and the intended release of more metal from China’s reserves weighing on the complex.

The US Dollar Index reached its highest on Thursday since August 27, with an intraday high of 92.97. The index was well bid, with investors expecting a hawkish view from the US Federal Open Market Committee’s meeting on September 21-22, in relation to the start of tapering of the country’s stimulus measures and asset purchasing.

Meanwhile, more releases of copper, aluminium and zinc from Chinese reserves also supressed prices, with the deputy director of the East Asian country’s National Development & Reform Commission (NDRC) noting on Thursday...

Published

Ana de Liz

Imogen Dudman

September 16, 2021

16:40 GMT

London