Copper Prices Consolidate as Rate Hike Expectations Heat Up
The LME copper price settled at $14,378.5/mt on Friday night, up 0.11% from the previous trading day.
The most-traded SHFE copper 2610 contract also rose by 0.16%, closing at 109,290 yuan/mt.
A strong US nonfarm payrolls report exceeded expectations, with a 162,000 increase in August.
This has led to increased speculation of a US Fed rate hike in September, pushing the probability to nearly 60%.