The U.S. dollar was stuck near two-month lows as data suggested cooling in the U.S. labour market, bolstering views that the Federal Reserve is near the end of its monetary tightening cycle. Some analysts projected stronger copper demand ahead. "We are revising up our copper price forecasts to $9,000 a tonne, from $8,500 a tonne previously, as demand edges higher and global supply tightens," Fitch Solutions Country Risk and Industry Research, a unit of Fitch Group, said in a report.
"Looking at demand, the outlook is positive going into the second quarter of 2023, with Mainland Chinese demand on track to rise significantly alongside growing demand from other global consumers as the green energy transition progresses." Among other metals, LME aluminium was down 0.3% at $2,363.50 a tonne, tin ticked 0.78% lower to $24,800, zinc was up 0.37% to $2,842, nickel moved down 0.04% to $23,115 and lead nudged 0.31% lower to $2,110.50. For the top stories in metals and other news, click or (Reporting by Neha Arora; Editing by Subhranshu Sahu)
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