Copper metal price today, September 19, increased slightly before the news of interest rate cut.

Copper futures for three months on the London Metal Exchange rose 0.6%.

Three-month copper futures on the London Metal Exchange (LME) rose 0.6% to $9,426 per ton after falling on Tuesday.

The LME currency has recovered 6% since hitting a three-week low on September 4th, but is still down 15% since reaching a record high in May.

Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen, said: "The market is looking for additional support from that interest rate cut announcement and is also focusing on China, for that government to do more to prevent the slide we are seeing."

Last week, Chinese President Xi Jinping urged authorities to strive to meet annual economic targets, leading to expectations of stimulus measures to boost the sluggish economic recovery.

The LME is fluctuating just below the crucial $9,500 level, a break of which would pave the way for a challenge at $10,000, Hansen added.

"The lack of profit-taking suggests there is some underlying belief that what happens next will provide further support to the market," he said.

The possibility of the US Federal Reserve (Fed) beginning its easing cycle with a large 50-basis-point rate cut was revived earlier this week after media reports raised the prospect of more aggressive action.

Interest rate cuts typically help boost economic growth and demand for metals, while also putting pressure on the US dollar.

A weaker US dollar index supported the market, making metals priced in the greenback cheaper for buyers using other currencies.

The most actively traded October copper contract on the Shanghai Futures Exchange closed up 0.6% at 74,510 yuan ($10,501.02) per ton.

LME aluminum rose 0.4% to $2,533 per ton, nickel increased 0.2% to $16,220, lead gained 0.3% to $2,024.50, while zinc fell 0.1% to $2,922.50.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-19-9-tang-nhe-truc-thong-tin-cat-giam-lai-suat.html