Copper down

Reuters

Melbourne

London copper came off a touch on Tuesday but remained near four-week highs as the dollar stayed under pressure after Federal Reserve Chair Janet Yellen said a rate hike was on the horizon but did not specify when.

Three-month copper on the London Metal Exchange edged down by 0.2 percent to $4,679.50 a tonne by 0132 GMT, after closing flat in the previous session when it struck the highest since May 12 at $4,748 a tonne.

Shanghai Futures Exchange copper had also finished barely moved at 36,060 yuan ($5,496) a tonne.

In other metals, nickel prices have got a boost from threats of mining sector reform in the Philippines, hitting the highest in more than a fortnight on Monday when they climbed 1.9 percent.  The Philippines is China's biggest supplier of nickel ore. Philippine President-elect Rodrigo Duterte warned mining companies to "shape up", as he signalled he would prefer ownership of mining assets to be left to local investors.