{"id":59493,"date":"2026-08-15T10:15:19","date_gmt":"2026-08-15T10:15:19","guid":{"rendered":"https:\/\/www.vtmarkets.com\/en-ca\/uncategorized\/london-metal-prices-see-gain-softer-dollar-more-attractive\/"},"modified":"2026-08-15T10:15:19","modified_gmt":"2026-08-15T10:15:19","slug":"london-metal-prices-see-gain-softer-dollar-more-attractive","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/london-metal-prices-see-gain-softer-dollar-more-attractive\/","title":{"rendered":"London Metal Prices See Gain; Softer Dollar More Attractive"},"content":{"rendered":"\n

2nd May 2024 – In this latest trading session, non-ferrous metals on the London Metal Exchange <\/a>witnessed varying degrees of price increases, primarily driven by a dip in the U.S. dollar. This depreciation has made metals priced in dollars more affordable for holders of other currencies. <\/p>\n\n\n\n

Copper<\/a>, a major indicator of economic health,<\/a> rose by 0.4% to $9,939.50 per metric tonne by early GMT. Similarly, aluminium edged up by 0.3% to $2,585, and nickel increased slightly by 0.1% to $18,905. Tin showed a meaningful rise of 1.6%, reaching $31,080.<\/p>\n\n\n\n

Contrast in Zinc and Lead Prices<\/strong><\/h3>\n\n\n\n

While most metals saw increases, LME zinc fell slightly by 0.1% to $2,877 per ton, and lead prices remained unchanged at $2,180 per tonne. These movements suggest a more mixed sentiment<\/a> in the metals market, possibly influenced by specific industrial demand and supply nuances.<\/p>\n\n\n\n

Dollar Weakness <\/strong><\/h3>\n\n\n\n

The recent softening of the dollar <\/a>came after the Federal Reserve’s signals of an inclination toward reducing interest rates in the future, although with a cautious approach to wait for more definite signs of falling inflation<\/a>. This has prompted investors to adjust their positions i<\/a>n dollar-priced assets, including metals.<\/p>\n\n\n\n

The session’s trading volumes were reportedly thin, attributed to Labour Day, a public holiday in China, the top consumer of many metals. Not surprising, as activities in China often have a pronounced impact on global metals markets due to the country’s consumption levels.<\/p>\n\n\n\n

China’s Export Plans<\/strong><\/h3>\n\n\n\n

Chinese copper producers<\/a> are also reportedly planning to export up to 100,000 metric tonnes of copper, marking the largest export volume<\/a> in 12 years. <\/p>\n\n\n\n

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\u26a0\ufe0f EXCLUSIVE-NEAR-RECORD HIGH LME PRICES A MAGNET FOR CHINESE COPPER EXPORTS

Full Story \u2192 https:\/\/t.co\/KE6K0lEPxf<\/a>

LONDON\/BEIJING – China's copper producers are planning to export up to 100,000 metric tons of metal, the largest volume in 12 years, aiming to cool a rally\u2026 pic.twitter.com\/IetT4nSvAt<\/a><\/p>— PiQ (@PiQMarkets) May 1, 2024<\/a><\/blockquote>