Copper ticks lower amid uncertainty

SHANGHAI: Copper ticked lower yesterday, reversing earlier gains, as uncertainties about an economic recovery and a rebounding dollar weighed.

Prices had edged up in early trade, aided by US Federal Reserve Chairman Ben Bernanke's pledge to keep interest rates low. However, traders had expected remarks about an uncertain economic recovery to weigh on the market.

"Bernanke's comment did not send a very clear direction to the market. On the one hand, the market is relieved that liquidity won't be tightened soon. On the other hand, worries over the economy are growing," said Lin Yuhui, deputy general manager of Jinhui Futures.