Metals Steady as China Shows Support for Under-Pressure Currency [Yahoo! Finance Canada]
HONG KONG EX&CL UNSP/ADR (HKXCY)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The daily reference rate for the yuan was set stronger than 7.2 per dollar, after slumping past that key threshold on Friday. A weak yuan typically hurts industrial metals by making them more expensive for Chinese buyers. Metals came under pressure last quarter as Donald Trump's decisive victory in the US presidential election — and China's mixed efforts to reboot growth — fueled an uncertain demand outlook. The stronger dollar has added to headwinds. “Trump's trade policy plans are driving renewed expectations of a stronger-for-longer US dollar,” BMI, a Fitch Solutions company, said in an emailed note. “This has the potential to send prices lower.” Prices on the London Metal Exchange steadied after mostly declining on Friday. Aluminum was little changed at $2,492.50 a ton by 9:52 a.m. in Singapore, while zinc eased 0.1%. Iron ore futures in Singapore edged up 0.1% to $98.30 a ton. Most Read from Bloomberg Businessweek ©2025 Bloomberg L.P. Recom
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