7,855.06 TL BIST 100 BIST 100
28.92 $ USD USD
€31.16 EUR EUR
38.38 TL Interest Interest
74.67 $ Fossil Oil Fossil Oil
23.80 $ Silver Silver
3.75 $ Copper Copper
132.52 $ Iron Ore Iron Ore
387.00 $ Ship Dismantling Ship Dismantling
1,883.86 TL Gold (gr) Gold (gr)

Hawkish monetary policy and a stronger dollar pushed base metal prices down

Basic metal prices decreased due to the US Federal Reserve's tight monetary policy and the strong dollar. Non-ferrous metals in particular became costlier due to the appreciation of the dollar against other currencies, while increasing inventories of metals such as copper and lead also put pressure on prices.

Hawkish monetary policy and a stronger dollar pushed base metal prices down

Three-month copper futures on the London Metal Exchange (LME) decreased by 0.6% to $8,299.50/tonne. On the Shanghai Futures Exchange, the October copper futures contract decreased by 0.2% to 68,650 yuan/tonne ($9,403.59).

The dollar index hit its highest level since March 9 after the US Federal Reserve decided to further tighten its tight monetary policy.

Lead stocks on the LME increased to 73,875 tonnes, easing tightness in the lead market as a $1 premium was added to prices traded at $63 on 5 September in cash-quarterly deals.

In addition, copper stocks on the LME reached 155,700 tonnes, the highest level since May 2022, pushing copper prices down.

Nickel decreased by 0.9%, zinc by 1.4%, lead by 0.5%, aluminium by 0.5% and tin by 0.3% on the LME. This decrease in metal prices was due to the strengthening of the US dollar and the increase in stocks in global markets.


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