LONDON, Feb 12 (Reuters) – Copper prices held steady on Monday in low volumes due to the Chinese Lunar New Year holiday as the market waited for U.S. inflation data which could indicate when the Federal Reserve might cut interest rates. Benchmark copper on the London Metal Exchange (LME) was up 0.1% at $8,176 a metric ton at 1019 GMT. Prices of the metal, used in the power and construction industries, hit three-month lows of $8,127 last week on concerns about demand prospects in top consumer China. “It’s quiet because of the Chinese holiday, people are still nervous about Chinese demand,” a copper trader said. “What happens to the dollar this week will be very important in China’s absence.” U.S.…
Published Date: 2024-02-12
Source: Market Screener
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