Base metals higher across-the-board, with copper rallying +1.9% at US$3.0336/lb and near 3-year highs amid signs of stronger China demand and falling London Metals Exchange (LME) inventories.
Benchmark spot iron ore (62% fines) fell for a third consecutive session despite on a bounce on Chinese commodity futures markets yesterday (which continued overnight), down -US$0.66c or -0.85% to US$77.16mt. Lower grade 58% fines rose +0.4% to US$49.69/mt.
Gold futures (December delivery) eased -US$2.70 to US$1,292.00/oz as traders waited for some potential fresh cues from the Jackson Hole symposium. Spot silver fell -0.56% to US$16.92/oz.
