Copper prices drop as US dollar surges

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    HANOI- Copper prices dropped more than 1 percent to near their lowest levels in a week, as a stronger dollar made greenback-priced metals more expensive to holders of other currencies.

    Three-month copper on the London Metal Exchange was down 1.2 percent at $8,867.50 a ton, having hit $8,852.50 a ton earlier in the session, its lowest since March 19.

    The most-traded May copper contract on the Shanghai Futures Exchange declined 0.8 percent to 65,970 yuan ($10,097.96) a ton.

    The dollar hit a fresh four-month high to the euro as the US pandemic response continued to outpace Europe’s, which has been hobbled by extended lockdowns and delayed vaccine rollouts.