Home Economy METALS-Copper falls as dollar firms amid virus worries

METALS-Copper falls as dollar firms amid virus worries

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July 19 (Reuters) – Copper prices fell on Monday as the dollar hovered near its highest levels in months, making greenback-priced metals more expensive and less appealing to holders of other currencies.

Daily new coronavirus infections have been surging from the United States and Europe to Asia due to the spread of the Delta variant, making investors nervous about the global economic recovery and sending money into safety.

Three-month copper on the London Metal Exchange fell 0.5% to $9,380 a tonne by 0237 GMT, while the most-traded August copper contract on the Shanghai Futures Exchange declined 0.6% to 68,770 yuan a tonne.

FUNDAMENTALS

* LME nickel rose 0.3% to $19,120 a tonne, zinc declined 0.7% to $2,982 a tonne and tin fell 0.3% to $33,490 a tonne.

* ShFE tin climbed 3.3% to 232,920 yuan a tonne, aluminium shed 0.8% to 19,345 yuan a tonne and nickel jumped 1.7% to 143,280 yuan a tonne.

* China’s aluminium imports in June rose 30% from the prior month,…

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