Copper holds above $14,000 as weak dollar offsets rise in LME inventory
XLB•Copper holds above $14,000 a ton
Copper edged down on Thursday, but held above the psychological $14,000-a-metric ton level, as higher inventories on the London Metal Exchange (LME) relieved supply concerns and offset support from sharp falls in the dollar.
Benchmark three-month copper CMCU3 on the LME was down 0.04% at $14,043.5 a ton by 0300 GMT. The most-traded copper contract on the Shanghai Futures Exchange SCFcv1 edged 0.15% higher to 107,140 yuan ($15,934.20) a ton.
Other base metals on LME and SHFE
Among LME metals, zinc CMZN3 dipped 0.05%, lead CMPB3 ticked 0.13% higher, nickel CMNI3 lost 0.69% and tin CMSN3 added 0.41%.
Among SHFE metals, zinc SZNcv1 dipped , lead added , nickel gained and tin gained .
