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London copper dips as investors await Jackson Hole meeting

  • The much-awaited Jackson Hole meeting could unveil plans to cut stimulus in the world's biggest economy and boost the dollar
Published August 27, 2021
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Copper prices in London fell on Friday as investors exercised caution ahead of the US Federal Reserve symposium later in the day.

The much-awaited Jackson Hole meeting could unveil plans to cut stimulus in the world's biggest economy and boost the dollar, making greenback-priced metals more expensive to holders of other currencies.

Three-month copper on the London Metal Exchange dipped 0.1% to $9,292 a tonne by 0330 GMT, while the most-traded October copper contract on the Shanghai Futures Exchange fell 0.5% to 68,790 yuan a tonne.

Also weighing on prices was July profit growth at industrial firms in top metals consumer China, growing at its slowest clip this year as high raw material prices and supply chain constraints from extreme weather and sporadic cases weighed.

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