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METALS-Steady dollar stymies copper prices
November 24, 2017 / 7:23 AM / 22 days ago

METALS-Steady dollar stymies copper prices

 (Updates prices)
    SYDNEY, Nov 24 (Reuters) - Copper traded in a tight range on
Friday, stymied by the U.S. Thanksgiving Day holiday and a
stagnant greenback.
    London copper edged higher for a fifth straight day
overnight with the help of U.S. dollar weakness against other
currencies. The dollar wobbled in thin trading in Asia, 
sidelining local investors hoping to boost positions with a
stronger home currency.
    * Three-month copper on the London Metal Exchange
rose by 0.4 percent to $6,992.50 a tonne by 0708 GMT.
    * The most-traded copper contract on the Shanghai Futures
Exchange finished 0.5 percent higher at 54,340 yuan 
($8,239) a tonne.
    * ESCONDIDA: Unionized workers at Chile's Escondida copper
mine, the world's largest, started a 24-hour strike on Thursday
to protest against recent layoffs.
    * PERU STRIKE: Workers for the two largest unions at
Southern Copper Corp in Peru started an indefinite
strike, though the company said operations were
unaffected.
    * SHFE METALS: ShFE metals were mixed, with only tin
  and nickel finishing in positive territory, up 0.9
percent and 1.3 percent, respectively.
    * LME UP:  In contrast, LME metals were slightly firmer
across the board, with nickel hitting a 10-day high of
12,075 a tonne.
    
    PRICES    
 BASE METALS PRICES                  0707 GMT         
 Three month LME copper                         6992.5
 Most active ShFE copper                         54340
 Three month LME aluminium                        2118
 Most active ShFE aluminium                      15045
 Three month LME zinc                           3237.5
 Most active ShFE zinc                           25580
 Three month LME lead                             2478
 Most active ShFE lead                           18520
 Three month LME nickel                          12055
 Most active ShFE nickel                         96870
 Three month LME tin                             19480
 Most active ShFE tin                           143240
                                                      
 BASE METALS ARBITRAGE                                
 LME/SHFE COPPER              LMESHFCUc3        510.37
 LME/SHFE ALUMINIUM           LMESHFALc3       -1170.1
                                                     1
 LME/SHFE ZINC                LMESHFZNc3        324.62
 LME/SHFE LEAD                LMESHFPBc3       -1164.6
                                                     5
 LME/SHFE NICKEL              LMESHFNIc3        2132.1
 

($1 = 6.5954 Chinese yuan)

    
 (Reporting by James Regan; Editing by Amrutha Gayathri)
  
 
 

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