LME main commodity international prices (2024. 11. 25.~11.29.)

The London Metal Exchange (LME) metal price trends from November 25 to 29, 2024, were influenced by economic policies, geopolitical factors, and supply-demand dynamics. Below is a detailed analysis of the key factors:

1. Expectations of FOMC Rate Cuts

The U.S. Federal Reserve’s December FOMC meeting raised expectations of a potential interest rate cut, which boosted investor risk appetite. This anticipation contributed to a weaker U.S. dollar, which in turn drove demand for base metals such as copper and aluminum, pushing their prices higher.

2. Signs of Economic Recovery in China

Positive economic recovery signals from China, the world's largest consumer of metals, also supported the market. Increased demand in manufacturing and construction sectors and improved industrial activity positively impacted metal markets, with a notable increase in prices for essential infrastructure metals like copper and aluminum.

3. Eased Geopolitical Tensions

The announcement of a ceasefire between Israel and Hezbollah in the Middle East helped reduce global geopolitical tensions. This stabilization influenced investor sentiment positively, indirectly benefiting the base metals market.

4. Performance of the U.S. Stock Market and Oil Prices

Strong performance in the New York stock market and rising crude oil prices improved overall market sentiment. Higher oil prices suggest increased production costs for energy-intensive metal manufacturing, adding upward pressure on metal prices.

Summary

The LME price trends this week reflected a mix of geopolitical, economic, and policy-driven influences. The market remains optimistic about global economic recovery, with future price trends likely to depend on monetary policy decisions and China's economic indicators.

This concise yet comprehensive overview captures the key dynamics behind the LME's recent price movements.