METALS-Copper falls after strong U.S. jobs report boosts dollar

viernes 6 de marzo de 2015 13:27 GYT
 

* Dollar index hits 11-1/2-year high

* Alcoa reviews 500,000 tonnes of smelting capacity

* China nickel premiums jump as country shuts old NPI plants (Updates with closing prices)

By Maytaal Angel and Eric Onstad

LONDON, March 6 (Reuters) - Copper prices hit their lowest in more than a week and notched up their biggest weekly loss in six weeks on Friday as the dollar rallied after a strong U.S. jobs report, with investors also worried about lacklustre demand in China.

The dollar touched an 11-1/2 year high against major currencies after the U.S. jobless rate fell to a more than 6-1/2-year low, which could encourage the Federal Reserve to consider raising interest rates in June.

A strong dollar makes dollar-priced metals costlier for non-U.S. investors.

In China, the world's top metals consumer, equities fell as investors digested comments by top officials that highlighted the growth and debt challenges the country faces this year.

Three-month copper on the London Metal Exchange slid 1.5 percent to close at $5,745 a tonne, having hit its lowest since Feb. 24. On the week, copper lost 2.5 percent, its biggest weekly decline since late January.   Continuación...