Feb 13 (Reuters) - Copper prices edged lower on Monday,
as a strong dollar made greenback-priced metals more expensive
to holders of other currencies.
The dollar hovered near a five-week high against major peers
on rising bets for prolonged U.S. Federal Reserve policy
tightening ahead of a crucial consumer price report on Tuesday.
Three-month copper on the London Metal Exchange edged down 0.1% at $8,853.50 a tonne by 0452 GMT, and the
most-traded March copper contract on the Shanghai Futures
Exchange fell 0.4% to 68,190 yuan ($9,981.70) a tonne.
However, trading volume was tepid as market participants
exercised caution ahead of key U.S. inflation data.
LME aluminium rose 0.6% to $2,455.50 a tonne,
rebounding from its one-month low hit in the previous session.
SHFE aluminium fell as much as 1.6% to 18,435 yuan a
tonne, its weakest in a month.
SHFE zinc fell to 22,920 yuan a tonne, its lowest
since Nov. 4, in low demand season in China and amid rising
inventories in SHFE warehouses, which were at 105,669 tonnes on
Friday, the highest since July last year. LME zinc fell 0.3% to $3,035 a tonne and was set for
its fourth straight session of decline. Stockpiles of the metal
in LME warehouses have been rising and were last at 26,250
tonnes, a level unseen since Jan. 3. SHFE tin declined 2.2% to 214,550 yuan a tonne,
lead fell 0.7% to 15,240 yuan a tonne and nickel dropped 3.8% to 207,740 yuan a tonne.
LME tin declined 0.9% to $27,100 a tonne while lead rose 0.3% to $2,085.50 a tonne.
For the top stories in metals and other news, click or DATA/EVENTS (GMT)
No major data/events expected
($1 = 6.8315 yuan)
(Reporting by Mai Nguyen in Hanoi; Editing by Rashmi Aich)
mai.nguyen.thomsonreuters.com@reuters.net))
LME price overview COMEX copper futures All metals news All commodities news Foreign exchange rates SPEED GUIDES ))
