London Metal Exchange base metals prices mostly softened on the morning of Wednesday November 17 apart from those for aluminium and nickel, with the US Dollar Index rising to new heights.
The US Dollar Index rose to 96.27 during early trading, its highest since July 2020. The three-month copper price was at $9,493.50 per tonne at 9am on Wednesday, down by 0.7% from its closing price of $9,561 per tonne on Tuesday. The metal had ended Tuesday 1.1% lower from its closing price of $9,673 per tonne on Monday, with the most-recent consumer price index (CPI) readings in the United States weighing on LME base metals, Britannia Global Markets metals broker Neil Welsh noted....