SINGAPORE: London copper prices edged up on Friday amid a weaker US dollar, while nickel contracts in both London and Shanghai fell despite analyst warnings of supply shortages.
The dollar was down against a basket of major currencies on Friday, making it cheaper for buyers using other currencies to purchase greenback-denominated metals.
The global nickel market will face grave supply shortages unless key Chinese-led projects in Indonesia come online in a timely manner, analysts said on Thursday.
FUNDAMENTALS
* Three-month copper on the London Metal Exchange had risen 0.2 percent to $6,417.50 a tonne by 0146 GMT, while the most active Shanghai copper contract dropped 0.5 percent to 49,170 yuan ($7,316.53) a tonne.
* London nickel fell 0.6 percent, after declining 1.9 percent in the previous session in its biggest drop in four weeks. Shanghai nickel declined 2.4 percent.
* LME nickel inventory continued to hover around its lowest level since 2013, while on-warrant nickel inventory in warehouses tracked by ShFE stayed around its lowest since 2015.
* Chinese electric car and battery maker BYD Co Ltd said it welcomed joint ventures to secure supply.
* Concerns about global economic slowdown weighed on other metals, with zinc and lead falling on both exchanges.
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