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LME copper dips on firmer US dollar, thin Asia trade
Copper softened in thin Asia trade on Tuesday as a firmer dollar, coupled with increasing inventories and weak demand, pressured prices. Benchmark copper on the LME dropped 0.5% to $12,782.50 a metric ton at 0328 GMT. China’s Lunar New Year holiday this week means low volumes and possibly volatile moves due to settlement or rollover of maturing contracts on the London Metal Exchange on Wednesday, traders said. The dollar held onto gains on the day as markets looked ahead to Wednesday’s release of minutes from the January meeting of the Federal Reserve’s for clues into the potential timing of rate cuts. A ... (full story)
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