Dec 7 (Reuters) - London copper prices inched lower on
Tuesday as a firmer U.S. dollar and uncertainties over the
impact of the Omicron COVID-19 variant offset support from
monetary easing in top buyer China.
Three-month copper on the LME was down 0.2% at
$9,483 a tonne, as of 0320 GMT, while the most-traded January
copper contract on the Shanghai Futures Exchange was
flat at 69,360 yuan a tonne.
Omicron has spread around the globe and shows signs of being
more contagious than the Delta variant, but health experts,
including top U.S. infectious diseases official Anthony Fauci,
said the variant appeared to be mild.
China's central bank said on Monday it would cut the amount
of cash that banks must hold in reserve, in the year's second
such move, releasing 1.2 trillion yuan ($188 billion) in
Meanwhile, the dollar was supported against
safe-haven currencies such as the Japanese yen on Tuesday,
hanging on to an overnight jump made with U.S. yields as
investors hoped early signs the Omicron may be mild will be
A stronger dollar makes commodities priced in the greenback
more expensive for holders of other currencies.
* Chinese tin smelter Gejiu Kaimeng Industry and Trade Co
has started routine maintenance in a month-long overhaul that
will take 600-700 tonnes of refined tin out of the market, the
International Tin Association (ITA) said on Tuesday.
* Global nickel smelting activity rebounded in November,
powered by gains in North America and Europe, while refined
copper production dipped, data from satellite surveillance
showed on Monday.
* LME aluminium was up 0.3% at $2,595 a tonne, zinc
fell 0.5% to $3,148, lead gained 0.5% to
$2,207.5 a tonne and tin rose 0.3% to $38,850 a tonne.
* ShFE aluminium slipped 0.7% to 18,760 yuan a
tonne, nickel fell 0.9% to 146,720 yuan a tonne and
zinc eased 0.3% to 22,820 yuan a tonne.
* For the top stories in metals and other news, click
* Asian stocks edged higher on Tuesday on receding worries
about the impact of the Omicron variant while Chinese markets
gained after the central bank there eased monetary policy.
0700 Germany Industrial Output MM Oct
0745 France Reserve Assets Total Nov
1000 EU GDP Revised QQ, YY Q3
1000 Germany ZEW Economic Sentiment Dec
1000 Germany ZEW Current Conditions Dec
1330 US International Trade Oct
(Reporting by Eileen Soreng in Bengaluru; Editing by Sherry