Base metals are all up

Three-month copper on the London Metal Exchange (LME) rose 0.1%.

Three-month copper on the London Metal Exchange (LME) rose 0.1% to $8,918 a tonne, compared with a closing price of $8,559 on the last trading day of 2023.

China's manufacturing activity grew for a third straight month in December but at a slower pace, an official factory survey showed, suggesting new stimulus measures are supporting the world's second-largest economy .

The US dollar remains strong and is set to rise significantly in 2024 as investors prepare for fewer rate cuts and upcoming policies from the Trump administration.

Rising US Treasury yields have boosted the dollar, with the key 10-year bond hitting its highest in more than seven months last week.

A stronger dollar makes holders of other currencies pay more to buy items priced in greenbacks.

“As the year draws to a close, copper consumption tends to decline seasonally, while stocks increase slightly,” analysts at Jinrui Futures said.

Copper inventories at SHFE warehouses rose 4.7 percent to 74,172 tonnes on a weekly basis as of Dec. 27, but were the lowest in 10 months. London copper falls as market awaits China data

The most-traded January copper contract on the Shanghai Futures Exchange (SHFE) fell 0.7 percent to 73,690 yuan ($10,097.15) a tonne.

LME aluminium edged up 0.1% to $2,552.50 a tonne, nickel rose 0.5% to $15,495, zinc rose 0.6% to $3,036.50, tin fell 0.7% to $29,085, while lead fell 0.1% to $1,948.

SHFE aluminium fell 0.2% to 19,805 yuan a tonne, nickel fell 0.1% to 124,420 yuan, zinc rose 0.2% to 25,345 yuan, lead fell 0.5% to 16,740 yuan and tin edged up 0.3% to 245,390 yuan.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-1-1-kim-loai-co-ban-deu-tang.html