rose to its highest level in two months.

Copper futures for three months on the London Metal Exchange (LME) rose 0.3%.

Three-month copper futures on the London Metal Exchange (LME) rose 0.3% to $9,540.50 per ton, having touched a high of $9,599.50, the highest level since July 18.

The dollar narrowed its gains after some profit-taking before the weekend and a stronger USD index, making commodities more expensive for buyers using other currencies.

The US central bank began its monetary easing cycle on Wednesday with a larger-than-usual half-percentage-point rate cut, boosting global risk assets.

Nitesh Shah, a commodity strategist at WisdomTree, said: "The Chinese central bank has largely delayed implementing broad-based stimulus measures due to interest rate differentials, but now that barrier has been removed, they can begin to stimulate."

China unexpectedly kept its benchmark lending rate unchanged on a monthly basis, but analysts say a rate cut is likely to be part of a larger policy package.

The LME currency has risen more than 7% since hitting a three-week low on September 4th, but is still down 14% since reaching a record high in May.

"There is a risk of a short-term price drop following a sentiment-driven price increase," Shah added.

Also supporting copper is a further decline in inventories at warehouses registered with the Shanghai Futures Exchange amid rising seasonal demand. Data released on Friday showed inventories have fallen by more than half since the beginning of June.

LME aluminum fell 0.7% to $2,521 a ton as producers took advantage of the recent price surge to sell at higher prices, a trader said.

Among other metals, LME zinc fell 0.8% to $2,907.50, nickel rose 0.8% to $16,470, lead gained 0.4% to $2,082.50, and tin advanced 1.6% to $32,340.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-21-9-tang-len-muc-cao-nhat-trong-2-thang.html