Most base metals fall on a firm dollar

METALS-Most base metals fall on a firm dollar

March 19 (Reuters)Most base metals fell slightly on Tuesday, pressured by a stronger dollar, making greenback-priced metals more expensive to holders of other currencies.

Three-month copper on the London Metal Exchange (LME) CMCU3 eased 0.1% to $9,076.50 per metric ton by 0249 GMT, while the most-traded May copper contract on the Shanghai Futures Exchange (SHFE) SCFcv1 advanced 0.1% to 73,170 yuan ($10,165.04) a ton.

The dollar was stronger, backed by investors adjusting their expectations of the pace and scale of Fed cuts this year following a recent run of resilient U.S. economic data pointing to still-sticky inflation.

Meanwhile, Comex copper speculators raised their long positions to 69,941 contracts, the highest level in more than 13 months, and switched to being net long, by March 12, latest data by the U.S. Commodity Futures Trading Commission showed.

LME aluminium CMAL3 dipped 0.1% to $2,274.50 a ton, nickel CMNI3 fell 0.1% to $17,850, zinc CMZN3 declined 0.4% to $2,523, while lead CMPB3 rose 0.1% to $2,092.

LME tin CMSN3 shed 0.2% to $28,635, on track for the first decline in five sessions, as supply disruption in major producer Indonesia showed signs of easing after the top miner there resumed exports for the first time this year in March.

SHFE aluminium SAFcv1 edged up 0.1% at 19,280 yuan a ton, tin SSNcv1 climbed 1.8% to 231,920 yuan, while nickel SNIcv1 fell 0.8% to 139,420 yuan, zinc SZNcv1 declined 0.7% to 21,235 yuan and lead SPBcv1 eased 0.2% to 16,220 yuan.

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0330 Australia RBA Cash Rate March

1000 Germany ZEW Economic Sentiment March

1000 Germany ZEW Current Conditions March

1230 US Housing Starts Number Feb

— US Federal Open Market Committee starts its

two-day meeting on interest rates

($1 = 7.1982 yuan)

Reporting by Mai Nguyen in Hanoi; Editing by Rashmi Aich

 For related news and prices, click on the codes in brackets: LME price overview RING= COMEX copper futures 0#HG: All metals news MTL All commodities news C 
Foreign exchange rates FX=SPEED GUIDES LME/INDEX

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