METALS-Base metals range-bound ahead of trade talks, Fed meeting [Reuters]
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Source: Reuters
METALS-Base metals range-bound ahead of trade talks, Fed meeting SINGAPORE, July 30 (Reuters) - Industrial metals traded in tight ranges on Tuesday as investors exercised caution ahead of planned U.S.-China trade talks and a two-day U.S. Federal Reserve meeting starting later today. The U.S. Fed is widely expected to lower interest rates by 25 basis points, cutting for the first time in a decade and potentially weakening the U.S. dollar, making greenback-priced metals cheaper for holders of other currencies. Meanwhile, U.S. and Chinese officials are due to meet on Tuesday in Shanghai for talks on a year-long trade dispute that has weighed on global economic growth and demand for industrial metals. Three-month copper on the London Metal Exchange was almost flat at $6,019.50 a tonne by 0132 GMT, while aluminium edged up 0.2%, nickel eased 0.1%, zinc advanced 0.4% and lead increased 0.3%. The most-traded copper contract on the Shanghai Futures Exchange rose 0.9% to 47,320 yuan ($6,865.23
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