Copper higher

Melbourne :Three-month copper initially traded a few dollars higher before retreating to trade flat at $6,895 a tonne after rising 1.6 percent overnight. The active ShFE copper contract was 1.35 percent firmer.

Chinese nickel futures led gainers in early trading on Tuesday, building on hefty overnight gains in the London market as consumers built positions as a hedge against further price rises. "That was the reason behind the big move in London overnight and we´re seeing follow-through in Asia today," said a Perth-bsed commodities trader, who declined to be named because he is not authorised to speak to media. The most-traded nickel contract on the Shanghai Futures Exchange was up just over 2 percent to 101,520 yuan ($15,292) a tonne by 0100 GMT.

Three-month nickel on the London Metal Exchange, however, eased slightly to $12,475 a tonne after galloping 3 percent higher overnight.