London copper rises on US stimulus hopes

HANOI: London copper rose on Tuesday on hopes that the United States would soon pass a long-awaited stimulus package which could boost metals demand and recovery in the world's biggest economy.

After meeting with Republican senators at the White House on Monday, President Joe Biden appeared poised to push forward with his $1.9 trillion COVID-19 relief plan even if it fails to draw Republican support.

Copper is also often used as a gauge of global economic health.

Three-month copper on the London Metal Exchange rose 0.3% to $7,822.50 a tonne by 0245 GMT, while aluminium edged up 0.1% to $1,970 a tonne, nickel dipped 0.6% to $17,760 a tonne and zinc rose 0.1% to $2,573 a tonne.

The most-traded March copper contract on the Shanghai Futures Exchange fell 0.4% to 57,650 yuan ($8,921.94) a tonne. ShFE nickel dropped 0.9% to 131,000 yuan a tonne and lead declined 1.2% to 14,950 yuan a tonne.