METALS-Copper nudges higher; lacklustre Chinese demand may check gains

NEW DELHI, April 26 (Reuters) - Copper prices edged higher on Wednesday, although further gains were likely to be capped on concerns around weak demand in top consumer China and a steady U.S. dollar. Markets are also expected to tread cautiously ahead of the U.S. Federal Reserve's policy meeting next week. Three-month copper on the London Metal Exchange (LME) was up 1.02% at $8,615 a tonne by 0246 GMT.

Copper prices had fallen to their lowest in six weeks on Tuesday due to weakening Chinese demand, strong dollar, and a sharp rise in inventories in the LME warehouse system. "Copper will be under pressure until demand from China revives," a research note from National Australia Bank Ltd noted. The most-traded June copper contract on the Shanghai Futures Exchange slid 1.09% to 67,430 yuan ($9,736.48) a tonne. LME aluminium edged up 0.45% to $2,346 a tonne, nickel moved up 0.51% to $23,460 a tonne, lead gained 0.55% to $2,118 a tonne, tin was up 0.88% to $25,810 a tonne, while zinc rose 1.5% to $2,639 a tonne. On the Shanghai exchange, aluminium declined 0.27% to 18,750 yuan a tonne, zinc dropped 1.17% to 21,205 yuan a tonne, lead was steady at 15,280 yuan a tonne and tin shed 2.62% to 207,050 yuan a tonne, while nickel fell 2.14% to 179,190 yuan a tonne. For the top stories in metals and other news, click or DATA/EVENTS (GMT) 1000 France Unemp Class-A SA March 1230 US Durable Goods March ($1 = 6.9255 Chinese yuan) (Reporting by Neha Arora; Editing by Uttaresh Venkateshwaran)

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-Copper nudges higher; lacklustre Chinese demand may check gains

By Reuters

Reuters

Reuters

Gold has a path to $4,000 as U.S. credibility crumbles - WisdomTree’s Nitesh Shah

Why gold revaluation charts put prices at $25,000-$55,000 if history rhymes, silver poised for breakout: Crescat Capital Strategist

Whether 145% or 10%, tariff uncertainty is enough to stop U.S. gold and silver imports, distort the metals market at all levels – Experts

Gold price plummets as U.S.-China trade relations thawing

Gold price down a bit amid better risk appetite