MANILA, May 16 (Reuters): London copper futures struggled to recover on Wednesday after a two-day slide as the US dollar hovered near a five-month high versus a basket of major currencies following a surge in Treasury yields.
Three-month copper on the London Metal Exchange edged up 0.4 per cent to $6,838 per tonne by 0730 GMT.
Prices of base metals could stay trapped in narrow ranges, said INTL FCStone consultant Edward Meir, with the exception of nickel given falling stockpiles of the metal on the London Metal Exchange.
"A stronger dollar and trade uncertainties remain prevailing negatives, but given that all six metals are expected to be in deficit this year, we do see an element of underlying support for the group as a whole," Meir wrote in a report.
Copper struggles to recover
FE Team | Published: May 16, 2018 21:43:49
Copper struggles to recover
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