Foreign media news on December 14: London Metal Exchange (LME) copper futures soared on Thursday, recording the largest one-day increase in nearly a year. This was mainly due to the weakness of the US dollar and the expectation that the Federal Reserve will cut interest rates to boost economic growth and demand for metals.
In intraday trading, LME Copper** as of 1158**2 GMT6% at $8,548 Tonnes. In the morning, the **was**28%, touching $8,565, which is the biggest one-day increase since January 1, 2023.
Fed Chair Jerome Powell said that the historic tightening of monetary policy may be over and that interest rate cut discussions will be "on the horizon" as inflation is falling faster than expected. This statement gave a boost to Thursday's global rally.
In addition, the dollar index fell to a four-month low, making dollar-denominated base metals cheaper for buyers holding other currencies.
In addition, news of the easing of home purchase restrictions in Beijing and Shanghai on Thursday also had a positive impact on the market. The real estate market is a major consumer of major industrial metals, including copper. This policy adjustment may have raised market expectations for Chinese metal demand.
Overall, the copper futures market on the London Metal Exchange on Thursday was booming. However, investors still need to be alert to possible risks and uncertainties.