HANOI, Jan. 14 (Reuters) – Copper prices fell Thursday, as a stronger dollar spurred by stimulus expectations and higher U.S. yields made metals at a green price more expensive for other currency holders.
Three-month copper on the London Metal Exchange slipped 0.4% to $ 7,981 per tonne by 0328 GMT, while the most traded copper contract in March on the Shanghai Futures Exchange fell 0.2% to 58,720 Yuan ($ 9,075.73) per tonne.
The dollar extended its rebound from nearly a three-year low against major peers, backed by higher U.S. yields, as President Joe Biden prepared to outline his plans for a major fiscal stimulus.
PROPERTY
* China’s copper imports fell for the third straight month in December, official data showed, as construction and manufacturing demand was not enough to counteract the arbitrage window closure that made 2020 the highest year for shipments.
* Chinese exports grew more than expected in December, albeit at a slower pace than the previous month, as global demand for Chinese goods remained strong, while import growth slowed. grow faster.
* Global miner Rio Tinto said it had reached an agreement with electricity supplier Meridian Energy MEL.NZ to allow its aluminum smelter in New Zealand to continue until December 2024.
* LME aluminum rose 0.2% to $ 2,016.50 per tonne, nickel rose 0.3% to $ 17,730 per tonne while zinc fell 0.8% to $ 2,752 per tonne.
* ShFE nickel rose 0.5% to 130,990 Yuan per ton, zinc fell 1.3% to 20,530 Yuan per ton and lead rose 1.7% to 14,855 Yuan per ton.
* For top stories in metals and other news, click or
MARKET NEWS
* Bonds slipped, Japanese stocks jumped to a ten-year high and other Asian shares were nearing the highest peaks as investors focused on U.S. stimulus expectations and expanded betan recovered and grew global.
DATA / EVENTS (GMT)
0630 India WPI Inflation YY December
1330 US Clm Unemployed Weekly
$ 1 = 6.4700 yuan Reciting by Mai Nguyen; Edited by Rashmi Aich