NEW DELHI, Feb 12 (Reuters) – Copper prices were
marginally higher on Monday, tracking a slightly weaker U.S.
dollar, although trade volumes were expected to be dampened as
markets in top metals consumer China were closed for the Lunar
New Year holiday.
Three-month copper on the London Metal Exchange was
up 0.05% at $8,173 per metric ton at 0211 GMT.
The dollar eased on Friday as traders shrugged off revised
U.S. monthly consumer prices that rose less than initially
estimated in December.
A weaker dollar makes it cheaper to buy the greenback-priced
commodity.
LME aluminium fell 0.3% to $2,209 a ton, nickel
climbed 0.6% to $16,010, zinc edged 0.07% lower
to $2,299 and lead rose 0.7% to $2,046.
“With markets closed in China for the Lunar New Year
holidays, focus will switch to supply side issues,” ANZ Research
said…
