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Commodities

Copper Prices Consolidate as Rate Hike Expectations Heat Up

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Copper
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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%.

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