SHANGHAI- Base metals traded mixed on Tuesday, with copper steady at its one-month high, although gains were capped by a strong US dollar following robust economic data.
Three-month copper on the London Metal Exchange (LME) rose 0.3 percent to $9,121 per metric ton.
The dollar hung near its highest in more than two years as traders scaled back US rate cuts bets in 2025 after strong economic data last week.
The US registered an out-performance in its economic data, with unexpected job growth acceleration and a 4.1 percent decline in unemployment rate last month. This prompted traders to dial back hopes of Federal Reserve rate cuts this year.
The dollar index which measures the US currency versus six other units, was 0.16 percent higher at 109.59, not far from the 26-month high of 110.17 touched on Monday.
A stronger dollar makes greenback-priced commodities more expensive for holders of other currencies.
The threat of Trump tariffs, along with the Fed’s measured approach to rate cuts this year, lifted Treasury yields and the dollar.
The most-traded February copper contract on the SHFE was flat at 75,340 yuan ($10,266.48) a ton.
LME aluminum remained relatively unchanged at $2,578 a ton, tin was flat at $29,870, nickel slipped 0.4 percent to $15,840, lead slid 0.5 percent to $1,948 and zinc added 0.1 percent to $2,869.
