Latest News

Copper relieves tracking dollar strength, weak China need

Copper rates fell on Tuesday tracking a more powerful U.S. dollar and lacklustre demand in leading metals customer China.

Three-month copper on the London Metal Exchange (LME). was down 0.4% to $9,299 per metric lot by 0410 GMT. It. had dipped to $9,282, the lowest because Sept. 16, on Monday.

The most-traded December copper agreement on the Shanghai. Futures Exchange (SHFE) fell 0.8% at 75,920 yuan. ($ 10,500.26) a lot.

The dollar traded near to a four-month peak versus significant. peers, while bitcoin extended its record rally as investors. continued to stack into trades seen as benefiting from the. incoming Donald Trump administration.

A more powerful dollar makes greenback-priced metals more pricey. for holders of foreign currencies.

With little focus being paid to the effectiveness of. subsequent support from China, we prepare for that the dollar. will remain the main element affecting metal costs this. week, Sucden Financial stated.

Investors have also been fretted about U.S. President-elect. Donald Trump's hazards to enforce stiff tariffs on China, which. might moisten metals demand.

China copper smelting and refinery operating rate dropped to. 81.18% in October from the peak in July at 88.41%, said a note. from broker Marex.

Upcoming sign of the Chinese economy's strength will be. the house price information due this Friday.

Among other metals, LME aluminium fell 1% to $2,561. a load, nickel reduced 0.6% to $16,010, zinc. declined 0.3% to $2,971.5, tin fell 0.7% to $31,050,. while lead firmed up 0.4% to $2,029.

SHFE aluminium fell 1.8% to 21,085 yuan a ton,. nickel reduced 0.7% to 127,660 yuan, zinc edged. lower 0.2% at 24,870 yuan, tin fell 1.3% to 257,000. yuan, while lead climbed 0.8% to 17,000 yuan.

For the top stories in metals and other news, click. or.

(source: Reuters)