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Business

REUTERS
June 14, 2018

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Copper dips

Beijing : Three-month copper on the London Metal Exchange fell 0.6 percent to $7,181 a tonne as of 0524 GMT, trading lower for a fourth straight session, while Shanghai copper shed 0.9 percent to 53,490 yuan a tonne.

The most-traded August aluminium contract on the Shanghai Futures Exchange was down 1.2 percent at 14,720 yuan ($2,298.96) a tonne by the mid-session interval, having earlier touched 14,570 yuan, its lowest since May 2.

Base metals prices fell on Wednesday, led by Shanghai aluminium, which touched a six-week low, as investors fretted over liquidity in China and awaited news from the U.S. Federal Reserve´s policy meeting.

The Fed is expected to raise interest rates at its meeting. Higher rates usually cause the dollar to strengthen, which would make dollar-denominated metals more expensive for holders of other currencies and could weigh on prices.

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