- Reuters
LONDON: Base metals trade mixed with a stronger US dollar making its more expensive for other currency holders to buy greenback-priced commodities.
Rising US treasury yields have been a boost for the US dollar, with the key 10-year note hitting a more than seven-month high.
Three-month copper on the London Metal Exchange or LME rose 0.1% to US$8,991 per tonne, supported by tightness in copper concentrate supply.
China’s top copper smelters agreed on price guidance for copper concentrate processing treatment and refining charges (TC/RCs) in the first quarter of 2025, reflecting a lingering shortage of copper concentrate.
“Copper prices fluctuate as the end of the year approaches. Many businesses are busy with closing trade books, and spot trades are thin,” analysts at Galaxy Futures said in a note. — Reuters
