Shanghai base metals fall

31 Jan, 2018

Base metals prices fell across the board on Tuesday due to a strengthening dollar, as investors waited for positive signals about infrastructure building in US President Donald Trump's State of the Union address later in the day.
A stronger dollar makes metals more expensive for holders of other currencies. The most-traded March copper contract on the Shanghai Futures Exchange closed down 0.9 percent at 52,970 yuan ($8,362.54) a tonne on Tuesday. Shanghai's most-traded March aluminium contract was the biggest loser in the base metals complex, ending down 1.5 percent at 14,470 yuan a tonne for its lowest close since December 14, as record-high stock levels in China continue to weigh on prices.

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