SHANGHAI (Jan 2): Most base metals were mixed on Thursday, the first trading day of 2025, buoyed by a wobbling US dollar, which made it cheaper for holders of other currencies to buy greenback-priced commodities.

The US dollar, after a strong year of gains against most currencies, wobbled at the start of 2025 trade on Thursday, trading at 108.31, down 0.23% from the previous trading day.

Rising US Treasury yields have been a boost for the dollar recently, with the key 10-year note hitting a more than seven-month high last week.

Three-month copper on the London Metal Exchange (LME) was up 0.7% at US$8,825 (RM39,530.35) per metric tonne, as of 0715 GMT.

The most traded January copper contract on the Shanghai Futures Exchange (SHFE) slid 0.7% to 73,280 yuan (US$10,039.32) a tonne by the end of Asia afternoon trade.

"On the macroeconomic side, the US Federal Reserve has maintained high interest rates, and the US dollar index remain at high ground, both of which have capped gains in copper prices," a trader said.

Markets in both London and Shanghai were closed on Wednesday for a holiday.

LME aluminium edged up 0.8% at US$2,571.5 a tonne, nickel was relatively unchanged at US$15,325, zinc gained 1.2% to US$3,014.50, tin fell 0.6% to US$28,905, while lead was 0.5% higher at US$1,962.50.

SHFE aluminium gained 0.8% to 19,945 yuan a tonne, nickel fell 0.6% to 123,820 yuan, zinc fell 0.2% to 25,265 yuan, lead gained 0.4% to 16,825 yuan, and tin edged down 0.5% at 244,640 yuan.

Uploaded by Liza Shireen Koshy