Aug 18 (Reuters) - Copper prices eased on Tuesday as they
struggled to break through a strong resistance level due to
uncertainty around the U.S. stimulus bill, although losses were
limited by a weaker dollar.
Three-month copper on the London Metal Exchange fell
0.1% to $6,441.50 a tonne by 0617 GMT, having risen as much as
The most-traded September copper contract on the Shanghai
Futures Exchange closed up 0.9% to 50,830 yuan
($7,337.42) a tonne.
The U.S. dollar weakened on Tuesday, making
greenback-priced LME metals more attractive to buyers using
"At the moment, the markets in general feel like they lost
their way and are looking for a trading signal," Malcolm
Freeman, a director at UK broker Kingdom Futures said in a note.
LME copper may revisit its July 13 high of $6,633 a tonne
this week, as a correction from this level may have completed,
Reuters technicals analyst Wang Tao said.
* Nickel ore at 14 Chinese ports edged up to 7.99 million
tonnes as of Aug. 7, the highest since June 28, research house
Antaike data showed.
* Nickel pig iron prices in Inner Mongolia with 10%-15%
nickel content <NPI-INRMON-ANT> rose to a seven-week high of
1,030 yuan a tonne, while Chinese 300-series stainless steel
prices <SSPR-3042B-ANT> hit their highest since Feb. 21 at
14,500 yuan a tonne, Antaike data showed.
* Chinese domestic aluminium ingots prices <SMM-ALU-ING>
fell to their lowest since July 21 at 14,420 yuan a tonne.
* The Asia Copper Week gathering of miners, traders and
smelters of the metal in Shanghai in November has been
* ShFE zinc jumped 1.9% to 19,9050 yuan a tonne,
while LME zinc hit a nine-month high at $2,460 a tonne
before easing to $2,453 a tonne, a gain of 0.5%.
* For the top stories in metals and other news, click
($1 = 6.9275 yuan)
(Reporting by Mai Nguyen; Editing by Rashmi Aich, Uttaresh.V
and Amy Caren Daniel)