Mumbai, 19 Feb (Commoditiescontrol): London Metal Exchange (LME) Copper prices eased on Monday as the U.S. dollar steadied after last week's inflation data cast doubts on when the Federal Reserve would begin to ease interest rates, while trading resumed in China after the week-long Lunar New Year holiday.
Three-month copper on the LME was down 0.6% to $8,436 per metric ton.
The most-traded March copper contract on the Shanghai Futures Exchange (SHFE) rose 0.8% to 68,430 yuan ($9,509.19) a ton.
Data last week showed both U.S. producer prices and consumer prices increased more than expected in January, with the apparent stickiness in inflation raising the prospects of a delayed start to the Fed's rate cuts.
A stronger U.S. currency makes dollar-priced metals more expensive for holders of other currencies. However, there were expectations of demand revival in China.
Among other metals, LME aluminium was unchanged at $2,218 a ton, nickel edged lower 0.3% to $16,310, zinc was down 0.1% to $2,383, lead decreased 0.6% to $2,052.50 and tin fell 2.3% to $26,360.
SHFE aluminium edged lower 0.4% to 18,820 yuan a ton, nickel was up 0.6% at 126,350 yuan, tin rose 1.6% to 217,650 yuan, while zinc fell 1% to 20,270 yuan, lead was down 1.3% to 16,030 yuan.
(By Commoditiescontrol Bureau: 09820130172)
0 Comments 
Post Comment 
