SHANGHAI: Metals were mostly trading higher on the London Metals Exchange on Monday, supported by a weaker dollar, although concerns over U.S. tariffs limited the gains.
Benchmark three-month copper on the London Metals Exchange was up 0.1% at $9,787 a metric ton, as of 0342 GMT.
The dollar hovered close to a five-month low on Monday, pressured by U.S. President Donald Trump’s erratic trade policies.
A softer dollar makes greenback-priced commodities more affordable for buyers using other currencies.
Copper production from Chilean state miner Codelco , the world’s largest copper producer, dipped 4% in January to hit 102,700 metric tons, according to data from copper commission Cochilco.
Copper slips from fresh peak after downbeat Chinese data
“Copper found some support after Codelco warned that production this quarter will be similar or slightly below year-ago levels due to maintenance work”, ANZ research said in a note.
LME aluminium was flat at $2,682 a ton, lead gained 0.6% to $2,081, zinc climbed 0.1% to $2,975, tin rose 0.1% to $35,325 and nickel advanced 0.6% to $16,560.
SHFE copper lost 0.1% to 79,940 yuan ($11,044.33)a metric ton, SHFE aluminium was down 0.5% at 20,870 yuan a ton, zinc added 0.1% to 24,155 yuan, lead jumped 0.4% to 17,675 yuan, tin lost 0.3% to 281,870 yuan and nickel lost 0.3% to 133,250 yuan.
Source: Brecorder
