Copper slips

Melbourne

London copper slipped on Tuesday as the dollar pushed ahead, but ongoing supply concerns from industrial action in Chile and an Indonesian export permit dispute underpinned prices.

The dollar climbed as the euro nursed losses, with concerns about the looming French election rattling European bonds. A stronger greenback erodes buying power for those paying for dollar-denominated commodities with other currencies.

"Yesterday's impressive base metal rally has so far stalled into the ShFE session as light regional long liquidation weighs on prices all be it on low volumes," said Marex Spectron in a report. "The move higher yesterday was no doubt exacerbated by the absence of some key U.S. accounts that have recently been on the offer and ahead of the resumption of ´normal´ trade some retracement should be expected," it said.

U.S. markets were closed on Monday for a public holiday.