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METALS-London metals slip as dollar firms, Middle East tensions escalate
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METALS-London metals slip as dollar firms, Middle East tensions escalate
Jun 16, 2025 7:04 PM

June 17 (Reuters) - Prices of metals in London dropped

on Tuesday, weighed down by a stronger dollar and as escalating

tensions between Israel and Iran dented risk appetite among

investors.

Three-month copper on the London Metal Exchange was

down 0.3% at $9,673.50 per metric ton, as of 0124 GMT.

LME aluminium eased 0.1% to $2,511.50 a ton, zinc

fell 0.4% to $2,649, lead slipped 0.4% to

$1,998.50 and nickel fell 0.4% to $15,005. Tin

was down 0.4% at $32,505.

The SHFE most-traded copper contract gained 0.3% to

78,500 yuan ($10,934.67) per metric ton.

Israel and Iran attacked each other for a fifth straight day

on Tuesday, and U.S. President Donald Trump urged Iranians to

evacuate Tehran, citing what he said was the country's rejection

of a deal to curb nuclear weapons development.

U.S. stock futures slipped and oil prices climbed, as

geopolitical tensions in the Middle East erupted.

The dollar index rose 0.3% against its rivals. A

firmer dollar makes greenback-priced commodities more expensive

for buyers using other currencies.

Offering some respite, better-than-expected retail sales

data from China on Monday raised hopes of a boost to metals

demand in the country.

Meanwhile, the U.S. intends to impose a quota on steel and

aluminum imports from the United Kingdom that would be exempt

from 25% tariffs as part of deal announced between the two

countries during the G7 Summit on Monday.

SHFE aluminium was little changed at 20,400 yuan a

ton, lead was flat at 16,915 yuan, nickel fell

1.1% to 118,400 yuan, while zinc gained 0.3% at 21,870

yuan and tin fell 0.4% to 263,620 yuan.

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($1 = 7.1790 Chinese yuan)

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