Copper metal price on January 16: decreased again

Three-month copper on the London Metal Exchange (LME) fell 0.2%.

Three-month copper on the London Metal Exchange (LME) fell 0.2% to $9,138.5 a tonne.

The dollar has slowed its gains, as traders turned cautious ahead of a highly anticipated US consumer inflation report due later in the day, making them hesitant to take fresh positions.

The dollar index, which measures the US currency against six other currencies, stood at 109.24 - not far from a 26-month high of 110.17 hit on Monday.

A stronger dollar makes commodities priced in the greenback more expensive for holders of other currencies.

The producer price index rose 3.3% in December on a yearly basis, slightly below the 3.4% economists had forecast, and rose 0.2% on the month, data showed on Tuesday, signaling lower inflation and the likelihood that the Federal Reserve will cautiously cut interest rates this year.

The potential impact of US President-elect Donald Trump's tariffs, combined with the Fed's cautious stance on cutting interest rates this year, has pushed up Treasury yields and strengthened the US dollar.

"The US dollar has been quite strong these days, putting pressure on metal prices. Meanwhile, investors are taking a wait-and-see attitude ahead of Trump's inauguration," a trader said.

The most-active copper contract on the SHFE edged up 0.1 percent at 75,390 yuan ($10,283.31) a tonne.

LME aluminium rose 0.3% to $2,568 a tonne, tin fell to $29,650, nickel fell 0.6% to $15,865, lead fell 0.5% to $1,955 and zinc fell 0.2% to $2,855.

SHFE aluminium fell 0.7% to 20,145 yuan a tonne, nickel fell 0.2% to 127,600 yuan, zinc fell 0.7% to 24,010 yuan, lead rose 0.5% to 16,565 yuan and tin fell 0.7% to 246,770 yuan.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-16-1-giam-tro-lai.html