https://newsletter.mw.creamermedia.com
Copper|Iron Ore|Resources|Solutions
Copper|Iron Ore|Resources|Solutions
copper|iron-ore|resources|solutions

Copper and other metals rise as dollar falls before US vote

4th November 2024

By: Bloomberg

  

Font size: - +

Copper, aluminum and other base metals rose as the dollar weakened ahead of the US Presidential election day on Tuesday.

A gauge of the US currency dropped as investors walked back bets on Donald Trump being the favorite in the vote, with the latest polls showing the race remains too close to call. A falling dollar makes commodities cheaper for many buyers.

Most base metals posted losses last month as initial optimism over China’s renewed efforts to spur growth turned to doubts over their effectiveness. The market is now waiting to see if a meeting of the executive body of the nation’s top legislature this week will unlock any additional resources that would support the economy.

Copper rose 0.7% to $9 636 a ton on the London Metal Exchange as of 12:08 p.m. in Shanghai. Aluminum climbed 0.5% to $2 612.50 and nickel advanced 0.8%.

BMI, a Fitch Solutions company, raised its average aluminum price forecast for this year by 2% to $2,450 a ton, citing supply concerns, China’s stimulus efforts and Federal Reserve rate cuts.

Meanwhile, iron ore futures rose 0.8% to $102.95 on the Singapore exchange, following a 1.5% drop on Friday.

Edited by Bloomberg

Comments

Showroom

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 
John Ratcliffe
John Ratcliffe

At John Ratcliffe, we are aftermarket specialists for heavy-duty on and off-road vehicles. We engineer and retrofit advanced safety systems, engine...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 28 March 2025
Magazine round up | 28 March 2025
28th March 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.166 0.242s - 144pq - 2rq
Subscribe Now