Melbourne : Shanghai copper on Friday touched its lowest since September as the dollar edged upwards and investors focused on escalating tensions over U.S. metal imports.
A stronger greenback makes metals more expensive for holders of other currencies, weighing on prices.
U.S. President Donald Trump´s 25 percent import tariff on steel and 10 percent tariff on aluminium, with initial exemptions for Canada and Mexico, will begin within 15 days, a senior administration official said on Thursday.
Nomura, however, played down the impact on exports from top steel and aluminium maker China, noting that the "U.S. share of China´s total steel and aluminium exports was only (around) 16 percent".
Shanghai Futures Exchange copper fell by 2 percent to 51,110 yuan ($8,058.97) a tonne, its lowest since Sept. 18, before recovering slightly to 51,330 yuan a tonne by the mid-session interval.
Pakistani laborers sort potatoes at a vegetable market in Karachi. — AFP/FileISLAMABAD: Pakistan, recognised as one...
The Karachi Chamber of Commerce & Industry building. — Facebook/Kcciofficial/File KARACHI: The Karachi Chamber of...
Silver rates remained unchanged at Rs2,580 per tola
The BoJ last week raised interest rates for the first time since 2007 and ditched its controversial negative interest...
The rupee, which was declining on a daily basis against the dollar, started recovering rapidly from over Rs320 to Rs270
Announcement was made by Askar Sydykov, Director of IBC, during discussions with a Pakistani trade delegation led by...