Copper prices eased under pressure from a stronger dollar on Tuesday after U.S. Federal Reserve Chair Jerome Powell was nominated for a second term, reinforcing investor expectations for higher interest rates in 2022. Benchmark copper on the London Metal Exchange (LME) was down 0.2% to $9,721 per tonne. The dollar index against a basket of currencies hit a fresh 16-month high. A stronger dollar makes commodities priced in the greenback more expensive for holders of other currencies. On-warrant copper stocks in LME-registered warehouses have climbed to 62,775 tonnes compared to 23,300 tonnes a month ago. But inventories on the LME are still down about 18% so far this year and are at near historically low levels. The replenished stocks have dragged down the premium of LME cash over the three-month contract price to $118 per tonne versus a record of $1,103.50 last month.