METALS-London copper edges higher as dollar weakens

NEW DELHI, May 23 (Reuters) - Copper prices in London edged higher on Friday, supported by a softer dollar, and were poised for weekly gains, although the upside was limited due to persisting uncertainty over U.S. tariffs.

Benchmark copper CMCU3 on the London Metal Exchange (LME) was up 0.3% at $9,527.5 a metric ton, as of 0225 GMT. It was up 0.8% for the week.

The U.S. dollar was soft on Friday and is set to log its first weekly drop in five weeks against the euro and the yen, making greenback-priced commodities more attractive for buyers using other currencies. USD/

The weakness in the dollar has been exacerbated by worries over the United States' worsening fiscal health, sending investors scurrying for safe havens.

Last week, the U.S. and China agreed to reduce tit-for-tat tariffs and implement a 90-day pause on actions but there is no clarity on what will follow after the temporary truce.

"There are uncertainties lingering around what will happen after the 90-day truce," said ANZ Commodity Strategist Soni Kumari.

"Market will consolidate in the current range around $9,400-$9,500 a metric ton. And, once we start seeing slowdown of copper imports into the U.S. that will pull down prices a bit."

Among other London metals, aluminium CMAL3 was up 0.3% at $2,464.5 a ton, zinc CMZN3 firmed 0.7% to $2,715, lead CMPB3 added 0.5% to $1,980 and nickel CMNI3 was up 0.3% to $15,540. Tin CMSN3 firmed 0.4% to $32,500.

The most-traded copper contract on the Shanghai Futures Exchange (SHFE) was up 0.03% at 77,930 yuan ($10,822.71) per ton.

SHFE aluminium SAFcv1 was unchanged at 20,195 yuan a ton, zinc SZNcv1 added 0.5% to 22,540 yuan, lead SPBcv1 was up 0.2% at 16,820 yuan, nickel SNIcv1 edged 0.3% lower to 123,130 yuan, and tin SSNcv1 fell 0.3% to 264,990 yuan.

($1 = 7.2006 yuan)

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