March 9 (Reuters) - London copper prices fell on
Thursday, as the dollar hovered near a three-month high, making
the greenback-priced metal more expensive to holders of other
currencies.
Three-month copper on the London Metal Exchange fell
0.6% to $8,855 a tonne by 0233 GMT, while the most-traded April
copper contract on the Shanghai Futures Exchange rose
0.6% to 69,390 yuan ($9,956.67) a tonne, tracking overnight
gains in London.
The dollar held near a three-month high on U.S. Federal
Reserve Chair Jerome Powell's message that interest rates would
have to go higher and possibly faster to tame inflation.
Easing supply disruptions in major copper producing
countries also pressured prices.
Panama's government and Canada's First Quantum Minerals agreed on the final text for a contract to operate the
Cobre Panama mine, and Panamanian authorities allowed the
company to resume concentrate loading operations.
Disruptions in Peru and Indonesia have also eased.
LME aluminium rose 0.1% to $2,355 a tonne, zinc fell 0.3% to $2,965 a tonne, lead eased 0.1% to
$2,090 a tonne and tin climbed 0.2% to $23,800 a tonne.
SHFE aluminium increased 0.2% to 18,550 yuan a
tonne, nickel eased 0.2% to 187,410 yuan a tonne, zinc dipped 0.2% to 23,225 yuan a tonne, lead fell
0.1% to 15,170 yuan a tonne, and tin shed 1.6% to
195,040 yuan a tonne.
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($1 = 6.9692 yuan)
(Reporting by Mai Nguyen in Hanoi; Editing by Subhranshu Sahu)
mai.nguyen.thomsonreuters.com@reuters.net))
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