(Updates prices to Asia market close)
By Hongmei Li and Michele Pek
SINGAPORE, June 19 (Reuters) - London metals dropped on
Thursday as a stronger dollar weighed on prices, with markets
focused on developments in the Israel-Iran conflict.
The LME's three-month copper was down 0.52% at
$9,605 per metric ton, as of 0715 GMT.
LME aluminium slipped 0.6% to $2,532, while tin
lost 0.8% to $32,100, zinc shed 0.8% to
$2,615.5, lead inched 0.18% lower to $1,989.5, and
nickel was flat at $15,050.
The dollar firmed, buoyed by safe-haven demand due to the
looming threat of a broader conflict in the Middle East and
possible U.S. involvement.
A higher dollar usually makes greenback-priced commodities
more expensive.
Investors closely watched tensions in the Middle East
tensions as U.S. President Donald Trump kept the world guessing
about whether Washington would join Israel's bombardment of
Iranian nuclear sites as the conflict entered its seventh day.
In the longer term, "any sustained spike in energy prices is
likely to ultimately weigh on the copper market due to the
higher cost to producers," ANZ said.
Copper supply was tight, with stocks in
LME-registered warehouses at 107,350 tons dropping 60% since
March, and are at their lowest since May 2024.
SHFE's most-traded copper contract lost 0.39%
to 78,310 yuan ($10,891.36) a ton.
SHFE nickel gained 0.46% to 118,890 yuan a ton and
lead gained 0.53% to 16,925 yuan, while tin
inched down 0.05% to 263,300 yuan, aluminium eased
0.24% to 20,585 yuan, and zinc shed 0.59% to 21,865
yuan.
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DATA/EVENTS (GMT)
1100 UK BOE Bank Rate June
($1 = 7.1901 Chinese yuan)