LME's copper prices increase on Dec 3, expected to rebound gradually
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Update time : 2024-12-04 18:43:51
Copper futures price on the London Metal Exchange (LME) recently performed not optimistic, pressured by a strengthening US dollar. However, on December 3, the market saw a sharp rebound of 1.42%, with prices climbing by US$128 to US$9,115.5 per ton. Market participants are now closely watching whether positive economic signals can offset external challenges.
The dollar's strong recovery earlier this week played a major role in suppressing copper prices. Anticipation of key Federal Reserve data has increased the dollar's appeal, making dollar-priced commodities like copper more expensive for international buyers and reducing demand.
Additionally, US President-elect Trump's tariff-related remarks have further fueled the dollar's rise, heightening market concerns over economic uncertainty. Although some Federal Reserve officials back further interest rate cuts, lingering inflation concerns continue to limit copper's recovery. Copper prices may gradually rebound, supported by easing rate expectations and declining inventories, assuming no new negative developments occur.
