Copper, industrial metals fall as stronger dollar weighs

Copper prices slipped on Wednesday as a firmer US dollar weighed on industrial metals, according to Business Recorder. On the London Metal Exchange, the three-month contract, the benchmark for copper, fell 0.66% to $14,651 a metric ton by 0300 GMT, while the most-traded Shanghai Futures Exchange contract edged 0.23% lower to 110,960 yuan ($16,550.57) a ton.

The greenback firmed overnight amid jumpy trade, as unpredictable oil moves and geopolitical worries unsettled market players. That makes dollar-priced metals costlier for buyers holding other currencies, which curbed the steady Chinese appetite that had been supporting the metal. Tuesday saw the Yangshan premium, which tracks Chinese interest in imported copper, slide to $117 a ton, though it remained 62.5% above its early-month reading.

Chinese demand had risen as buyers stocked up before smelters close for national holidays falling on 25 to 27 September and 1 to 7 October. Copper had earlier drawn support from heavy US imports made ahead of a possible tariff on refined metal, but that pull eased after Reuters reported US officials worried tariffs could raise manufacturing costs. Analysts at Jinrui Futures said weekly US imports had pulled back, while SHFE nickel rose 1.16%.