Copper prices rise slightly as dollar falls

Copper prices rose slightly from multiyear lows in London on Tuesday, as a weaker dollar offered some respite for the industrial metal.

The London Metal Exchange's three-month copper contract was up 0.3% at $4,502 a metric ton, having been just $12 shy of a new six-year low when it hit an intraday low of $4,452 a ton.

Dollar softness usually has an impact on copper prices. The metal is priced in dollars and becomes less expensive for holders of non-dollar currencies when the greenback weakens.

"The U.S. dollar has been the principal driver [of prices this morning], " said John Meyer, an analyst at broke SP Angel.

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