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Base Metals Extend Rebound on Weaker Dollar, China Rate Cut

  • Metals capped first advance last week in eight on China easing
  • Rebound might be short-lived as risk appetite waning, SMM says
Updated on

Most base metals extended their rebound from a five-month low as the demand outlook was bolstered by a weaker US dollar and China’s loan-rate cut. Nickel slumped, paring last week’s gain.

The Bloomberg Dollar Spot Index fell to the lowest level in nearly a month, making commodities priced in the US currency relatively cheaper for many buyers.