METALS-London copper falls as dollar recovers

March 21 (Reuters) - Copper prices fell on Tuesday in London as the dollar bounced back slightly from a five-week low hit in the previous session and amid fears of a looming global financial crisis. The dollar regained some ground on Tuesday but was pinned near a five-week low as traders tiptoed back into riskier assets after UBS' state-backed takeover of Credit Suisse allayed some fears of a widespread, systemic banking crisis.

Three-month copper on the London Metal Exchange fell 0.4% to $8,662.50 a tonne by 0247 GMT, while the most-traded May copper contract on the Shanghai Futures Exchange rose 0.5% to 67,350 yuan ($9,788.53) a tonne, tracking overnight gain in London. The LME cash copper contract was trading at a premium of $3.75 a tonne over the three-month contract , flipping from a discount zone that has lasted since Jan. 19, indicating tightening nearby supply. The front month SHFE copper contract has been trading at a premium over the three-month contract since March 13, also indicating tightening nearby supply, as demand of the metal in China improved. LME aluminium rose 0.2% to $2,278 a tonne, lead fell 0.4% to $2,110 a tonne while tin rose 0.3% to $22,810 a tonne. SHFE aluminium edged down 0.1% at 18,145 yuan a tonne, nickel dropped 2.6% to 173,310 yuan a tonne, zinc fell 0.3% to 22,505 yuan a tonne, lead declined 0.2% to 15,350 yuan a tonne and tin shed 0.2% to 184,560 yuan a tonne. For the top stories in metals and other news, click or DATA/EVENTS (GMT) 1000 Germany ZEW Economic Sentiment March 1000 Germany ZEW Current Conditions March 1400 US Existing Homes Sales Feb U.S. Federal Reserve's Federal Open Market Committee starts its two-day meeting on interest rates
($1 = 6.8805 yuan) (Reporting by Mai Nguyen in Hanoi)

mai.nguyen.thomsonreuters.com@reuters.net))

LME price overview COMEX copper futures All metals news All commodities news Foreign exchange rates SPEED GUIDES ))

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

METALS-London copper falls as dollar recovers

By Reuters

Reuters

Reuters

Gold is never going back to $2,000: 'That's history,' prices to 3x from here – Peter Schiff

‘Biggest economic shift since Nixon’: Major U.S. monetary policy changes coming in 12-36 months – Jack Mallers

India joins South Africa in denying BRICS currency plans after Trump’s 100% tariff threat

Solid price gains for gold, silver after busy news weekend

Bitcoin remains a ‘speculative vehicle’ and ‘won’t work’ as a reserve: ‘I prefer gold’ – Ray Dalio