Copper down

Melbourne

London copper prices drifted lower on Thursday, with the U.S. dollar firming as the market reassessed minutes from the Federal Reserve´s last policy meeting that kept the prospect of a March rate hike in play.

Many Fed policymakers said it may be appropriate to raise interest rates again "fairly soon" should jobs and inflation data come in line with expectations, according to the policy meeting minutes released on Wednesday.

The dollar moved away from overnight lows and steadied on Thursday.

A stronger dollar erodes purchasing power for those paying for commodities with other currencies. Three-month copper on the London Metal Exchange had slipped 0.6 percent to $6,004 a tonne by 0330 GMT, after easing 0.3 percent on Wednesday. Prices have been bouncing around the $5,960-$6,200 a tonne range since mid-month, touching a 20-month top of $6,204 on Feb. 13 after a strike was announced at Chile´s Escondida mine, the world´s biggest copper producer.