Base metals rebound as the dollar weakens and market sentiment stabilizes
đ LME copper rose about 0.9% to USD 14,480 per tonne on October 16, recovering from a near two-week low. Aluminum and zinc also gained nearly 1%, reflecting renewed buying across industrial metals.
đ A weaker dollar supported prices, while stabilizing equities after the technology stock selloff helped improve appetite for assets sensitive to economic growth.
đ Nearby supply remains relatively tight. Cash copper trades above the three-month contract, partly as metal continues flowing into the US ahead of potential tariffs.
đ The rebound is not yet enough to confirm a renewed uptrend. Dollar movements and supply-demand updates from next weekâs LME Week will help assess whether the recovery can hold.
#BaseMetals $XRP $XAUT
đ LME copper rose about 0.9% to USD 14,480 per tonne on October 16, recovering from a near two-week low. Aluminum and zinc also gained nearly 1%, reflecting renewed buying across industrial metals.
đ A weaker dollar supported prices, while stabilizing equities after the technology stock selloff helped improve appetite for assets sensitive to economic growth.
đ Nearby supply remains relatively tight. Cash copper trades above the three-month contract, partly as metal continues flowing into the US ahead of potential tariffs.
đ The rebound is not yet enough to confirm a renewed uptrend. Dollar movements and supply-demand updates from next weekâs LME Week will help assess whether the recovery can hold.
#BaseMetals $XRP $XAUT