Industrial metals rose in price on the background of dovish signals from Powell

Prices for industrial metals and iron ore rose after Fed Chairman Jerome Powell's speech in Jackson Hole, where he admitted the possibility of a rate cut as early as September.

Traders have increased expectations of policy easing by 25 bps, which weakens the dollar and increases the attractiveness of raw materials for buyers in other currencies.

Copper quotes on the Shanghai Stock Exchange added 0.6% to 79 210 yuan per ton, tin rose by 1.2%. Other metals also showed growth: iron ore on the Singapore Stock Exchange jumped by 1.7% to $102.25 per ton; similar movements were noted in Dalian and the steel market in Shanghai.

Expectations of a softer Fed policy supported the market, although price dynamics are still held back by concerns about weak demand in China and uncertainty around US trade policy.