Friday, 22 September 2017

Copper Dropped After Fed Raised Expectations Of One More Rate

Copper trading range for the day is 414.7-429.7.

Copper dropped after Fed raised expectations of one more rate hike this year, lifting the dollar and raising prospects of higher costs for industrial metals.

The underlying trend suggests growth in consumption of metals and the prospect of lack of supply as the markets look to 2018.

Premiums crept up by $2.50 to $65 for metal in China after LME cash-3 spreads ballooned to the widest in almost a decade.

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