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Global prices of industrial metals declined, most notably copper, which fell by 0.7% to reach $13,499 per ton due to expectations that the Federal Reserve Board will continue raising interest rates, negatively impacting demand and financing costs for the industrial sector. Aluminum prices decreased by 0.4%, zinc by 0.8%, and lead saw a slight drop of 0.1%. Meanwhile, metal inventories at the London Metal Exchange reached record levels due to increased shipping flows. Despite U.S. inflation data coming in lower than expected, geopolitical tensions have heightened concerns over rising prices and their potential impact on global economic growth. Additionally, iron ore prices in Singapore remained relatively stable, increasing by only 0.1%.
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