HANOI, June 22 (Reuters) - Copper prices rose on Tuesday, as
the dollar paused for breath ahead of a highly-anticipated
testimony from the U.S. Federal Reserve chair Jerome Powell due
later in the day, making the greenback-priced metals cheaper to
holders of other currencies.
The dollar has gained sharply since the Fed last week
flagged sooner-than-expected interest rate hikes, but dipped on
Monday as markets looked to testimony from Powell for guidance
on the U.S. central bank.
Three-month copper on the London Metal Exchange was
up 0.6% at $9,238 a tonne, as of 0336 GMT, while the most-traded
July copper contract on the Shanghai Futures Exchange
advanced 1.2% to 67,600 yuan ($10,461.00) a tonne.
* The global world refined copper market showed a 19,000
tonnes deficit in March, compared with a 108,000 tonnes surplus
in February, the International Copper Study Group said in its
latest monthly bulletin.
* Global primary aluminium output rose to 5.744 million
tonnes last month from revised 5.543 million tonnes in April,
data from the International Aluminium Institute showed on
* The global nickel market deficit narrowed to 15,600 tonnes
in April from a shortfall of 17,100 tonnes in March, data from
the International Nickel Study Group (showed on Monday.
* LME nickel rose 1.4% to $17,695 a tonne and ShFE
nickel climbed 3% to 132,010 yuan a tonne.
* For the top stories in metals and other news, click
* Global shares extended their recovery, with Asian markets
bouncing from four-weeks lows as investor focus on economic
growth partly offset worries about any near-term rise in U.S.
1100 US Existing Home Sales May
1100 EU Consumer Confidence Flash June
1800 US Federal Reserve Chair Jerome Powell testifies
before U.S. House of Representatives Select
Subcommittee on Coronavirus Crisis
($1 = 6.4621 yuan)
(Reporting by Mai Nguyen, Editing by Sherry Jacob-Phillips)