London copper was little changed on Tuesday, as the dollar held steady and markets awaited fresh signals for direction.
FUNDAMENTALS
* Three-month copper on the London Metal Exchange traded down 0.1 percent to $4,935 a tonne by 0042 GMT, after closing the previous session up 0.4 percent even as prices dipped to the lowest in four sessions at $4,852.25.
* Shanghai Futures Exchange copper edged up 0.3 percent to 38,330 yuan ($5,720) a tonne in the overnight session.
* ShFE nickel rallied 2.5 percent overnight, in line with LME nickel’s Monday gains on the back of a drop in supply from Philippines. LME nickel traded flat on Tuesday.
* Home price rises in China slowed in June for a second straight month, adding to fears that a construction-led rebound in the economy may not be sustainable.
* Germany’s economy will rebound in the coming months after a weak second quarter and any impact from Britain’s decision to leave the European Union in the near future could be limited, the Bundesbank said in a monthly report on Monday.
* Rio Tinto on Tuesday maintained its full-year iron ore shipment guidance from its Australian mines of roughly 330 million tonnes, subject to weather conditions.
* As Congo’s mining heartland endures mass layoffs at big mines caused by low commodity prices, small-scale mining is helping to fill the deficit.
* For the top stories in metals and other news, click or
MARKETS NEWS
* U.S. stock prices rose on Monday, with the Dow Jones Industrial Average and S&P 500 posting record closes amid upbeat company earnings, while oil fell on worries about growing supply and traders brushing off a failed coup in Turkey.
Market Swing
Comex signals
Gold signals
FUNDAMENTALS
* Three-month copper on the London Metal Exchange traded down 0.1 percent to $4,935 a tonne by 0042 GMT, after closing the previous session up 0.4 percent even as prices dipped to the lowest in four sessions at $4,852.25.
* Shanghai Futures Exchange copper edged up 0.3 percent to 38,330 yuan ($5,720) a tonne in the overnight session.
* ShFE nickel rallied 2.5 percent overnight, in line with LME nickel’s Monday gains on the back of a drop in supply from Philippines. LME nickel traded flat on Tuesday.
* Home price rises in China slowed in June for a second straight month, adding to fears that a construction-led rebound in the economy may not be sustainable.
* Germany’s economy will rebound in the coming months after a weak second quarter and any impact from Britain’s decision to leave the European Union in the near future could be limited, the Bundesbank said in a monthly report on Monday.
* Rio Tinto on Tuesday maintained its full-year iron ore shipment guidance from its Australian mines of roughly 330 million tonnes, subject to weather conditions.
* As Congo’s mining heartland endures mass layoffs at big mines caused by low commodity prices, small-scale mining is helping to fill the deficit.
* For the top stories in metals and other news, click or
MARKETS NEWS
* U.S. stock prices rose on Monday, with the Dow Jones Industrial Average and S&P 500 posting record closes amid upbeat company earnings, while oil fell on worries about growing supply and traders brushing off a failed coup in Turkey.
Market Swing
Comex signals
Gold signals
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