METALS-Copper gains on shaky dollar, supply issues

BEIJING, Feb 8 (Reuters) - Copper prices rose on Wednesday, lifted by a weaker U.S. dollar after investors perceived comments by Federal Reserve Chair Jerome Powell to be dovish, with supply disruptions underpinning prices. Three-month copper on the London Metal Exchange was up 0.7% at $8,986 a tonne by 0126 GMT. The most-traded March copper contract on the Shanghai Futures Exchange similarly gained 0.7% at 68,460 yuan ($10,080.99) a tonne. The dollar fell from one-month highs on Tuesday after Jerome Powell doubled down on statements last week that disinflation has started, as he expects significant declines in inflation this year. The dollar index inched lower on Wednesday, making it more attractive for non-dollar holders to buy the greenback-priced commodity.

Supply-side issues, including First Quantum Minerals' <Ltd FM.TO> suspension of loading operations at a major port in Panama, also aided the sentiment. Chile, the world's top copper producer, saw exports of the red metal reach $2.98 billion in January, down 21.6% from a year earlier, the central bank said on Tuesday. Glencore's Antapaccay copper mine in Peru has resumed normal operations after closing for 11 days due to attacks by protesters in the South American nation. LME aluminium was up 0.6% to $2,540 a tonne, zinc rose 2% to $3,200.50 a tonne, lead climbed 0.8% to $2,114.50 a tonne, tin advanced 1.8% to $27,550 a tonne. SHFE nickel gained 0.7% to 211,050 yuan a tonne, zinc added 0.6% to 23,540 yuan a tonne, tin rose 1.8% to 219,840 yuan a tonne, aluminium edged 0.2% up to 19,085 yuan a tonne, lead little changed at 15,210 yuan a tonne For the top stories in metals and other news, click or ($1 = 6.7910 Chinese yuan) (Reporting by Siyi Liu and Dominique Patton; editing by Uttaresh.V)

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METALS-Copper gains on shaky dollar, supply issues

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