Top Stories
Top Stories

METALS-Copper prices rebound from 1-month low on weaker dollar, trade hopes

Mai Nguyen

(Adds quotes, details)

SINGAPORE, April 26 (Reuters) - London copper prices on Friday rose from a one-month low touched in the previous session, buoyed as the U.S. dollar eased from a two-year high and supported by hopes of a U.S.-China trade deal.

Three-month copper on the London Metal Exchange rose 0.3 percent to $6,382 a tonne by 0342 GMT, after marking its lowest since March 28 on Thursday on a strong U.S. dollar and worries over the outlook for the global economy.

The dollar index versus a basket of six major currencies dropped slightly on Friday but stayed near its two-year peak. A weaker greenback makes dollar-denominated metals cheaper for buyers with other currencies.

Sentiment was also supported by news that U.S. President Donald Trump would soon host Chinese leader Xi Jinping at the White House, setting the stage for a possible agreement on trade between the world's two largest economies.

"We believe prices will witness limited upside in the coming weeks, unless a U.S.-China trade deal is finally struck, as concerns over global growth continue," Fitch Solutions said in a report.

"Nevertheless non-ferrous metal prices remain elevated in the year-to-date and we expect them to head higher from spot as we move into H219 on the back of robust demand from China," the report said.


* LONDON: London nickel and zinc were both up 0.7 percent, while aluminum advanced 0.1 percent and lead rose 0.4 percent.

* SHANGHAI: Shanghai copper fell 0.6 percent to 48,890 yuan ($7,261.57) a tonne following London's overnight drop. Aluminum decreased 0.5 percent, nickel advanced 0.2 percent and zinc increased 0.4 percent.

* COPPER OUTPUT: Freeport-McMoRan Inc's copper output fell 18 percent to around 340,000 tonnes in the first quarter, while Anglo American's production rose by 4 percent to 161,100 tonnes.

* GLENCORE/AURELIA: Australian miner Aurelia Metals Ltd said it was in talks about a possible acquisition of Glencore's CSA copper mine in the state of New South Wales.

* For the top stories in metals and other news, click or


Three month LME copper

Most active ShFE copper

Three month LME aluminum

Most active ShFE aluminum

Three month LME zinc

Most active ShFE zinc

Three month LME lead

Most active ShFE lead

Three month LME nickel

Most active ShFE nickel

Three month LME tin

Most active ShFE tin

ARBS ($1 = 6.7327 Chinese yuan)

(Reporting by Mai Nguyen; Editing by Joseph Radford and Subhranshu Sahu)