Feb 20 (Reuters) - London copper prices slipped on
Monday, as a firmer U.S. dollar made greenback-priced metals
more expensive to holders of other currencies, while rising
inventories signalled continued weak demand in top consumer
China.
Three-month copper on the London Metal Exchange eased 0.1% to $8,977 a tonne by 0140 GMT and lead declined 0.2% to $2,061.50 a tonne, while aluminium rose
1.4% to $2,420.50 a tonne, zinc advanced 0.2% to $3,065
a tonne and tin increased 0.6% to $26,000 a tonne.
The most-traded March copper contract on the Shanghai
Futures Exchange was up 0.1% at 69,050 yuan a tonne,
tracking gains in London prices in the previous session on
supply disruption issues.
SHFE aluminium increased 1.3% to 18,755 yuan a
tonne, zinc climbed 1.8% to 23,280 yuan a tonne and
lead was up 0.2% at 15,160 yuan a tonne, while tin fell 2.9% to 207,800 yuan a tonne and nickel shed 0.7% to 203,500 yuan a tonne.
The dollar was on the front foot, supported by a strong run
of economic data out of the United States that traders bet will
keep the Federal Reserve on its monetary policy tightening path
for longer than initially expected.
Meanwhile, copper inventories in SHFE warehouses rose again by the end of last week. The stocks have
been building up every week since the end of last year, although
the weekly gain on Friday was the smallest in nearly two months.
Analysts have forecast Chinese copper consumption to rebound
strongly in March.
Production and export disruptions in mining countries like
Peru, Indonesia and Panama have also lent support to copper
prices.
For the top stories in metals and other news, click or DATA/EVENTS (GMT)
1500 EU Consumer Confid. Flash Feb
(Reporting by Mai Nguyen in Hanoi; Editing by Subhranshu Sahu)
mai.nguyen.thomsonreuters.com@reuters.net))
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