Base metals prices on the London Metal Exchange dipped in the UK morning on Thursday September 21, after the US Federal Open Market Committee (FOMC) statement gave the dollar a boost.

We were wary that the US Federal Open Market Committee (FOMC) statement could give the dollar a boost and that it could become a headwind for metals prices and that seems to have been the case. The base metals prices on the London Metal Exchange are down across the board by an average of 1.1% this morning, Thursday September 21.

Base metal prices on the Shanghai Futures Exchange (SHFE) were broadly lower during the Asian morning session on Thursday September 21, coming under pressure from renewed strength in the dollar after the US Federal Reserve indicated that another interest rate increase this year was likely.

Base metals prices were trading broadly higher on the London Metal Exchange Wednesday September 20 although copper closed in negative territory.

Comex copper prices were hovering around the previous settlement on Wednesday September 20 with the Federal Reserve decision keeping action muted.

Base metals prices on the London Metal Exchange were stronger across the board in the morning of Wednesday September 20, led by nickel prices climbing 1.8%.

Base metals prices on the London Metal Exchange are up by an average of 0.5% this morning, Wednesday September 20. Most metals are in positive territory, with three-month copper prices up by 0.5% at $6,563 per tonne, although zinc prices, down by 0.2%, are bucking the uptrend. Volume has been below average with 4,335 lots traded as of 06:31 BST.

Base metal prices on the Shanghai Futures Exchange (SHFE) were all stronger during Asian morning trading on Wednesday September 20, led higher by lead prices which have found support from supply tightness amid ongoing environmental inspections in China.

Comex copper prices maintained Monday's gains on Tuesday September 19, with market participants awaiting the results of upcoming monetary policy meetings.

Base metals prices moved either side of previous closing levels during London Metal Exchange pre-market trading on Tuesday September 19, with the market largely devoid of short-term direction after recent sizeable swings, traders said.