(Updates prices to Asia market close)
By Michele Pek
SINGAPORE, June 18 (Reuters) - London copper edged
higher on Wednesday, supported by a softer dollar, although
heightened tensions in the Middle East dampened global risk
appetite and kept a lid on metal prices.
Three-month copper on the London Metal Exchange was
up 0.46% at $9,713 per metric ton, as of 0712 GMT.
LME aluminium eased 0.02% to $2,550 a ton, zinc
inched 0.55% higher to $2,653, lead strengthened
0.18% to $1,979.5 and nickel edged 0.24% higher to
$14,960. Tin climbed 1.11% to $32,625.
The U.S. dollar wavered against most major currencies on
Wednesday, with the dollar index slipping 0.1% on the
day.
A weaker dollar makes dollar-denominated assets more
affordable to holders of other currencies.
"Base metals remained under pressure amid a broader risk off
tone across markets," said ANZ analysts.
Concerns over escalating hostilities in the Middle East
stayed front and centre in markets on Wednesday, sending oil
prices higher. Higher oil prices dampen economic growth and
stoke inflationary pressures.
Meanwhile, recent data showed the U.S. economy was slowing
amid President Donald Trump's shifting tariff policies, with
retail sales falling more than expected in May.
The SHFE most-traded copper contract gained 0.42%
to 78,860 yuan ($10,976.10) per metric ton.
SHFE aluminium was up 1.35% at 20,680 yuan a ton,
lead slipped 0.68% to 16,810 yuan, nickel fell
0.42% to 118,480 yuan, while zinc gained 0.85% to
22,060 yuan and tin inched up 0.28% to 265,010 yuan.
For the top stories in metals and other news, click
or
($1 = 7.1847 Chinese yuan)