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METALS-London copper rises on softer dollar, but Middle East tensions cap gains
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METALS-London copper rises on softer dollar, but Middle East tensions cap gains
Jun 18, 2025 1:02 AM

(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)

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