(Corrects headline, paragraph 1 to make clear milestone was in
March 2020)

HANOI, June 18 (Reuters) – London copper prices were set on
Friday for their worst week since March 2020, pressured by
China’s plan to sell reserves and a firm dollar buoyed by the
prospect of U.S. interest rate hikes.

Three-month copper on the London Metal Exchange fell
0.4% to $9,282 a tonne by 0149 GMT on Friday, down 7.2% so far
in the week.

The most-traded July copper contract on the Shanghai Futures
Exchange dropped as much as 2.9% to 67,110 yuan
($10,412.08) a tonne, its lowest since April 15 and also set for
a weekly drop.

The dollar was headed for its best week in nearly nine
months as investors have scrambled to price in a
sooner-than-expected ending to extraordinary U.S. monetary
stimulus in the days after a surprise shift in tone from the
Federal Reserve.

A stronger dollar makes greenback-priced metals more
expensive and less appealing to holders of other currencies.

Earlier this week, top metals consumer China announced a
plan to sell state reserves of copper, aluminium and zinc, in an
effort to curb a strong price rally in commodities.


* LME aluminium fell 0.2% to $2,396 a tonne, while
nickel rose 1% to $17,350 a tonne. ShFE aluminium
dropped 1.3% to 18,475 yuan a tonne, zinc shed
2.7% to 22,020 yuan a tonne and lead declined 1.4% to
15,095 yuan a tonne.

* LME copper inventories <MCUSTX-TOTAL> rose to their
highest since April 28 at 143,750 tonnes.

* A party controls 50%-80% of available zinc stocks and
short-term futures, LME data showed. <0#LME-WHT>

* China will issue new rules on the management of price
indexes for commodities and services as the government steps up
scrutiny of the country’s commodity markets and battles to
contain inflation.

* For the top stories in metals and other news, click


0600 UK Retail Sales MM, YY May

0600 UK Retail Sales Ex-Fuel MM May

($1 = 6.4454 yuan)
(Reporting by Mai Nguyen; Editing by Subhranshu Sahu)