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LME COPPER CASH

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Copper rises as dollar near six-week lows

04/19/2021 | 10:20pm EDT

HANOI, April 20 (Reuters) - Copper prices rose on Tuesday as a weaker dollar made greenback-priced metals cheaper and more attractive to holders of other currencies.

Three-month copper on the London Metal Exchange rose 0.1% to $9,382 a tonne by 0153 GMT, while the most-traded June copper contract on the Shanghai Futures Exchange advanced 0.7% to 69,200 yuan ($10,636.34) a tonne.

The dollar wallowed near a six-week low against its peers on Tuesday as U.S. bond yields have hovered below a 14-month peak touched last month.

FUNDAMENTALS

* LME aluminium rose 0.3% to $2,336 a tonne, zinc advanced 0.3% to $2,855 a tonne and tin climbed 0.7% to $26,910 a tonne.

* ShFE aluminium increased 0.3% to 18,125 yuan a tonne, nickel dropped 0.8% to 120,980 yuan a tonne, zinc was down 0.6% to 21,755 yuan a tonne, while lead increased 1.3% to 15,255 yuan a tonne.

* The global nickel market surplus expanded to 6,200 tonnes in February from a downwardly revised surplus of 3,500 tonnes in the previous month, data from the International Nickel Study Group showed.

* China's industry ministry said on Monday it would compile records this year on energy consumption by key enterprises in energy-intensive industries such as aluminium in order to help promote conservation and efficiency.

* Russian metals producer Nornickel has improved its 2021 production forecast slightly as one of its mines is resuming work ahead of schedule after flooding.

* For the top stories in metals and other news, click or

MARKETS NEWS

* Asian shares dropped back in early trading, following an overnight retreat on Wall Street, while the dollar stayed at multi-week lows against other major currencies.

DATA/EVENTS (GMT)

0600 UK Claimant Count Unem Chng March

0600 UK ILO Unemployment Rate Feb

($1 = 6.5060 yuan) (Reporting by Mai Nguyen; Editing by Shounak Dasgupta)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.28% 0.7239 Delayed Quote.-5.59%
BRITISH POUND / US DOLLAR (GBP/USD) 0.06% 1.36719 Delayed Quote.0.39%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.06% 0.7805 Delayed Quote.-0.25%
EURO / US DOLLAR (EUR/USD) 0.02% 1.1728 Delayed Quote.-3.97%
GOLD 0.59% 1774.824 Delayed Quote.-7.58%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.10% 0.013567 Delayed Quote.-0.89%
MINING AND METALLURGICAL COMPANY NORILSK NICKEL -0.55% 30.82 Delayed Quote.-0.67%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.05% 0.70153 Delayed Quote.-2.06%
S&P GSCI GOLD INDEX 0.89% 1034.4087 Delayed Quote.-6.93%
SILVER 1.19% 22.547 Delayed Quote.-15.06%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.04% 6.48141 Delayed Quote.-0.25%
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