HANOI, March 24 (Reuters) – Copper prices fell on Wednesday as concerns over rising COVID-19 cases in Europe pushed up demand for the safe-haven U.S. dollar, making greenback-priced metals more expensive to holders of other currencies.<\/p>\n
Escalating tensions between China and the West also hit sentiment.<\/p>\n
Three-month copper on the London Metal Exchange fell 0.6% to $8,923.50 a tonne by 0304 GMT, while the most-traded May copper contract on the Shanghai Futures Exchange decreased 1.2% to 66,290 yuan ($10,162.19) a tonne.<\/p>\n
The dollar index rose to a two-week high at 92.412 early in the Asian session, approaching a four-month top of 92.506 hit earlier this month.<\/p>\n
* LME nickel fell 0.4% to $16,080 a tonne, zinc dropped 1% to $2,810.50 a tonne while ShFE nickel declined 2.2% to 120,530 yuan a tonne and ShFE zinc was down 1.8% at 21,625 yuan a tonne.<\/p>\n
* Workers at Antofagasta\u2019s Los Pelambres copper mine in Chile have accepted a contract offer and abandoned the threat of a strike, the union said.<\/p>\n
* For the top stories in metals and other news, click or<\/p>\n
* Asian shares hit a two-week low, oil weakened further and the dollar neared four-month highs as coronavirus lockdowns in Europe and potential U.S. tax hikes hit risk appetite.<\/p>\n
0700 UK CPI YY Feb<\/p>\n
0815 France Markit Mfg, Serv, Comp Flash PMI March<\/p>\n
0830 Germany Markit Mfg, Serv, Comp Flash PMI March<\/p>\n
0900 EU Markit Mfg, Serv, Comp Flash PMI March<\/p>\n
0930 UK Mfg, Serv, Comp Flash PMI March<\/p>\n
1230 US Durable Goods Feb<\/p>\n
1345 US Markit Mfg, Serv, Comp Flash PMI March<\/p>\n
1400 US Federal Reserve Chair Jerome Powell gives<\/p>\n
virtual testimony on coronavirus aid, relief,<\/p>\n
and the Economic Security Act before Senate<\/p>\n
Banking Committee<\/p>\n
1500 EU Consumer Confid. Flash March<\/p>\n