no change on the exchange

Three-month copper on the London Metal Exchange was little changed.

Three-month copper on the London Metal Exchange (LME) was little changed at $9,245 a tonne after rising earlier in the session to $9,382.

Copper and other base metals pared gains after U.S. inflation data reinforced expectations that the Federal Reserve will likely cut interest rates by less than 25 basis points next month.

That pushed the dollar index higher, making commodities priced in the U.S. currency more expensive for buyers using other currencies.

Prices rose earlier in the session after a report said China was considering allowing homeowners to refinance up to $5.4 trillion in mortgages to lower borrowing costs.

“This could help support consumer confidence, which has been weak, which could in turn boost household consumption,” said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen.

China has stepped up its efforts to support its struggling real estate sector, a key source of demand for industrial metals.

The most-traded October copper contract on the Shanghai Futures Exchange ended the day up 0.1% at 74,220 yuan ($10,466.94) a tonne, up 0.5% this month.

LME aluminium prices rose 1.1% to $2,484 a tonne, nickel prices rose 0.2% to $17,030, zinc prices rose 1.4% to $2,917, lead prices rose 1.1% to $2,058.50 and tin prices rose 0.5% to $32,520.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-2-9-khong-thay-doi-tren-san-giao-dich.html