The metallurgical complex is recovering from the banking shocks; faces weekly losses

Por Siyi Liu and Dominique Patton

BEIJING, March 17 (Reuters) – The price of most base metals rose on Friday, buoyed by easing concerns over the banking crisis sparked by Silicon Valley Bank and Credit Suisse, but lingering fears over the rise interest rates and the recession left them there. the path of weekly losses.

Three-month copper on the London Metal Exchange (LME) rose 1.9% to $8,683.50 a tonne at 0857 GMT, down 2.1% for the week.

* The most-traded April contract for the red metal on the Shanghai Futures Exchange closed 0.2% higher at 67,220 yuan ($9,773.76) a tonne, down 2.8% for the week.

* The price of copper, seen as an economic barometer, was hit by a slump in global markets following last week’s collapse of US bank Silicon Valley and a sharp drop in shares of Swiss bank Credit Switzerland, affected by the crisis.

* Investors welcomed the news that a large group of banks has injected liquidity into the American lender First Republic Bank and that the Swiss National Bank has provided a lifeline to Credit Suisse.

* The dollar fell, making it more attractive for holders of other currencies to buy commodities traded on the greenback.

* Among other base metals, aluminum on the LME rose 1.6% to $2,303.50 a tonne; zinc rose 2.3% to $2,923.50; Lead rose 0.4% to $2,075; and tin rose 1% to $22,440.

(Edited in Spanish by Carlos Serrano)