XM does not provide services to residents of the United States of America.

Copper dips on firmer dollar, demand outlook worry on Trump's tariff threat



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>METALS-Copper dips on firmer dollar, demand outlook worry on Trump's tariff threat</title></head><body>

Nov 28 (Reuters) -Copper prices eased on Thursday, weighed down by a firmer dollar and concerns over the potential U.S. tariffs on Chinese products that could hurt metals consumption.

Three-month copper on the London Metal Exchange (LME) CMCU3 eased 0.2% to $9,000 per metric ton by 0408 GMT, while the most-traded January copper contract on the Shanghai Futures Exchange (SHFE) SCFcv1 dipped 0.2% to 73,800 yuan ($10,187.04) a ton.

The dollar index .DXY edged up, making greenback-priced metals more expensive to holders of other currencies.

U.S. President-elect Donald Trump said earlier this week he will impose an additional 10% tariffs on all Chinese goods after he takes office in January.

Copper prices will be trading in tight ranges for the short-term as people are waiting for more details on Trump's policies and how the Chinese government reacts to them, said analyst Matt Huang at broker BANDS Financial.

Some are also waiting for more key policy meetings in China and companies' annual reports to see how well they are doing, he said.

"We will be here for a while but if the U.S. dollar depreciates a lot copper price will go up," Huang said.

However, supporting copper at $9,000, a key resistance level, is solid buying from China.

"It's all about the absolute price. At $9,000 they will buy more," Huang said.

Copper inventories in SHFE warehouses CU-STX-SGH dropped to their lowest since Feb. 5 at 120,236 tons.

LME aluminium CMAL3 eased 0.5% to $2,583 a ton, while nickel CMNI3 rose 0.9% to $16,025, zinc CMZN3 edged down 0.6% at $3,112.50, lead CMPB3 increased 0.3% to $2,063.50 and tin CMSN3 fell 0.3% to $27,860.

SHFE aluminium SAFcv1 fell 1.1% to 20,315 yuan a ton, tin SSNcv1 dropped 2% to 233,250 yuan, while nickel SNIcv1 rose 0.3% to 126,920 yuan, zinc SZNcv1 climbed 1.1% to 25,850 yuan and lead SPBcv1 advanced 0.7% to 17,355 yuan.

For the top stories in metals and other news, click

TOP/MTL or MET/L



($1 = 7.2445 yuan)



Reporting by Mai Nguyen in Hanoi; Editing by Rashmi Aich

 For related news and prices, click on the codes in brackets: LME price overview RING= COMEX copper futures 0#HG: All metals news MTL All commodities news C 
Foreign exchange rates FX=SPEED GUIDES LME/INDEX
</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.