© Reuters.
LONDON – In the commodities market, prices experienced a day of fluctuations on the London Metal Exchange (LME), with highs of $8460 per metric ton (mt) and $8448/mt before closing slightly lower at $8375/mt and then making a minor recovery to $8382/mt. The metal’s performance on Friday was swayed by the strength of the U.S. dollar and market anticipation of policy moves from China’s central bank.
Other metals showed varied movements in the market. On the Shanghai Futures Exchange (SHFE), aluminum prices dipped by nearly half a percent, whereas LME aluminum prices saw no significant change. In the lead and zinc segments, both metals concluded the trading session on a positive note. LME lead prices edged up modestly, and zinc prices ended the day positively on both LME and SHFE markets.
Nickel stood out with a considerable gain in contracts on the SHFE, driven by shifts in inventory levels. The broader market sentiment was influenced by key macroeconomic indicators, including U.S. inflation data and the market’s expectations regarding upcoming interest rate decisions by the Federal Reserve.
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