~*~Mining and Metals Du Jour~*~

[the cork]

METALS-Copper hits 1-week low as dollar rebounds, LME inventory rises
By Reuters Staff

Sept 11 (Reuters) - Copper prices dropped to a one-week low on Friday, setting the LME benchmark on track for its first weekly loss in five, as the U.S. dollar rebounded, making metals more expensive for buyers holding other currencies.

Other base metals also fell as market sentiment was blunted by concerns around Brexit, fading hopes of a new U.S. fiscal stimulus, and data suggesting a stalling U.S. labour market recovery from the coronavirus crisis.

Three-month copper on the London Metal Exchange fell as much as 1.2% to $6,589 a tonne, its lowest since Sept. 4. The contract was down 0.4% at $6,640 by 0421 GMT.

The most-traded copper contract on the Shanghai Futures Exchange slumped as much as 1.7% to 51,200 yuan ($7,488.56) a tonne in morning trade.

The dollar index rebounded after ... (cont.)

https://www.reuters.com/article/global-metals/metals-copper-hits-1-week-low-as-dollar-rebounds-lme-inventory-rises-idUSL4N2G80M5