Shanghai copper to open lower, tracking LME loss

Shanghai copper is expected to open lower on Friday, tracking London's losses in the previous session, after a surging dollar sparked a broad commodities selloff.

FUNDAMENTALS * Three-month copper on the London Metal Exchange MCU3 fell $169 to close to $6,870 a tonne on Thursday, and extended losses to $6,861 in after-hour trading. * When Shanghai closed on Thursday, LME copper stood at $6,989 a tonne. * On the supply side, union workers at Chile's Altonorte copper smelter voted to strike after they rejected a wage offer from owner global miner Xstrata (XTA.L: Quote, Profile, Research). [ID:nN17186419] * Japan's primary aluminium buyers have agreed to roughly 7-13 percent hikes in premiums for the first quarter of next year, to a 14-year high, as Japan's apparent aluminium demand has finally recovered close to levels seen before the financial crisis.

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