Base metals prices on the London Metal Exchange were mostly unchanged on Monday March 8, compared with their 5pm closes on Friday, with a strong US Dollar Index holding above 92 for the first time since November 2020 and a high US Treasury notes yield hindering base metals price movements.
The US Dollar index was at 91.21 on Monday at 9am, up from 91.96 on Friday at the close, concurrently the yields on the US 10 Year Treasure notes were at 1.6%, with both of those two metrics behind the pullback in LME prices for the past week."The pullbacks continue and the rising dollar will be adding weight too. This correction should show...