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METALS-Copper slips as doubts increase about US rate cut in December

ReutersNov 17, 2025 7:22 AM

- Copper eased on Monday amid a broad selloff among the base metal complex, as hawkish views from some U.S. Federal Reserve officials sparked concerns that a December interest rate cut may not be on the horizon.

The most-active copper contract on Shanghai Futures Exchange SCFcv1 closed daytime trading down 0.91% at 86,450 yuan ($12,169.54) per metric ton.

The benchmark three-month copper CMCU3 on the London Metal Exchange dipped 0.20% to trade at $10,830 a ton, as of 0715 GMT.

The market is under pressure as traders bet against a December cut by the Fed.

Some policymakers at the U.S. central bank expressed concerns about inflation, questioning whether another rate cut is necessary.

The U.S. government on Friday said it will start to release economic data delayed by the government shutdown, including Thursday's delayed September jobs report.

The U.S. dollar =USD turned stronger on Monday as market pricing in the hawkish views. A stronger dollar weighs on commodities traded in the greenback by making them more expensive for investors using other currencies.

Weak China demand, as well as disappointing economic data, meanwhile, continued to weaken market sentiment.

Among other SHFE base metals, aluminium SAFcv1 eased 1.14%, zinc SZNcv1 dipped 0.33%, lead SPBcv1 tumbled 1.39%, nickel SNIcv1 lost 0.92%, and tin SSNcv1 lost 1.32%.

All base metals, except copper, saw their inventories in warehouses registered on SHFE rose last week, indicating weak demand.

Among other LME metals, aluminium CMAL3 dropped 0.35%, lead CMPB3 lost 0.48%, nickel CMNI3 shed 0.44%, tin CMSN3 nudged 0.16% higher, and zinc CMZN3 was little changed.

($1 = 7.1038 Chinese yuan renminbi)

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