For the top stories in metals and other news, click or (Reporting by Neha Arora; Editing by Savio D'Souza)
LME price overview COMEX copper futures All metals news All commodities news Foreign exchange rates SPEED GUIDES ))
NEW DELHI, April 11 (Reuters) - Copper prices were
marginally higher on Tuesday as a softer U.S. dollar lent
support, although further gains were likely to be capped ahead
of key U.S. inflation data.
Three-month copper on the London Metal Exchange (LME) was up 0.22% at $8,819.50 a tonne by 0224 GMT.
Prices declined 1.5% last week after weak U.S. economic data
fueled fears of a recession.
Investors now await U.S. consumer price data on Wednesday
for more clarity on the path of interest rates heading into the
Federal Reserve's policy meeting next month.
"We expect if U.S. inflation data this week is stronger than
expected, further downside risk to prices persists," analysts at
National Australia Bank Limited said in a research note.
Among other metals, LME aluminium was down 0.36% at
$2,325 a tonne, tin fell 2.85% to $23,615, zinc eased 0.16% to $2,774.50, nickel moved 0.07% lower to
$22,785, while lead was up 0.33% at $2,102.50.
Meanwhile, China's consumer inflation in March hit the
slowest pace since September 2021, driven by falling food
prices, official data showed on Tuesday, suggesting demand
weakness persists amid an uneven economic recovery.
Producer deflation extended into a sixth month.
The most-traded May copper contract on the Shanghai Futures
Exchange was down 0.33% at 68,540 yuan a tonne.
SHFE aluminium was down 1.63% to 18,375 yuan, zinc fell 1.66% to 21,885 yuan, lead edged 0.29%
lower to 15,255 yuan, tin fell 2.69% to 188,330 yuan,
and nickel fell 1.40% to 176,370 yuan a tonne.
Production in Peru, the world's No. 2 copper producer, is
expected to be 2.8 million tonnes this year, a senior official
said on Monday, representing an almost 15% jump from 2022, in a
bright spot for the Andean nation's top export.
LME price overview COMEX copper futures All metals news All commodities news Foreign exchange rates SPEED GUIDES ))
LME price overview COMEX copper futures All metals news All commodities news Foreign exchange rates SPEED GUIDES ))
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