Oct 26 (Reuters) - London copper prices fell on Tuesday, on
a small uptick in readily available exchange inventories and as
a firm dollar made greenback-priced metals pricier to holders of
Three-month copper on the London Metal Exchange
eased 0.1% to $9,863 a tonne by 0324 GMT, while the most-traded
December copper contract on the Shanghai Futures Exchange
rose 0.6% to 72,160 yuan a tonne.
The dollar has bounced off recent lows and was firm in
choppy trade ahead of a handful of data releases and central
bank meetings which investors expect to guide the rates outlook.
On-warrant copper stockpiles in LME warehouses
<MCUSTX-TOTAL> rose for the fourth straight session to 23,300
tonnes, rebounding slightly from a 1998-low hit on Oct. 14 of
14,150 tonnes that sparked supply concerns and pushed premium of
cash LME to a record high over the three-month contract.
* LME aluminium fell 0.5% to $2,860.50 a tonne, zinc
declined 0.8% to $3,432 a tonne, and nickel
decreased 0.1% to $20,295 a tonne.
* ShFE aluminium dropped 2.9% to 20,870 yuan a
tonne, nickel rose 1.8% to 152,110 yuan a tonne, zinc
fell 0.7% to 24,395 yuan a tonne, lead rose
0.5% to 16,055 yuan a tonne and tin shed 0.6% to
281,570 yuan a tonne.
* The premium of LME cash nickel over the three-month
contract <CMNI0-3> shot up to $189 a tonne, a level unseen since
October 2019, indicating tightness of nearby supplies, following
Eramet's report of a drop in ferronickel output in New
Caledonia due to a wave of COVID-19 infections there.
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* Asian stocks inched higher, as upbeat Wall Street earnings
lifted the broader economic outlook though fresh worries about
China's property sector hit Hong Kong and mainland markets.
1400 US Consumer Confidence Oct
1400 US New Home Sales-Units Sept
(Reporting by Mai Nguyen in Hanoi)