Copper was trading lower, snapping its three-day gains as traders awaited evidence that demand from China, the world’s largest metals consumer, may sustain prices after the metal reached an 11-month high last month.
The Chinese Statistics Bureau and customs departments are set to report trade and economic data, including figures tracking inflation, industrial production, trade and fixed-asset investments. The People’s Bank of China is also scheduled to report figures for August money supply and loans.
Copper for three-month delivery on the London Metal Exchange fell 0.7% to $6,280 a metric tonne and was last seen at $6,300 a tonne at 10:10 am in Singapore.
Copper for December delivery in New York was almost unchanged at $2.8670 a pound, while the December-delivery contract on the Shanghai Futures Exchange was 0.4% lower at 49,310 yuan ($7,221) a tonne.
Among other LME-traded metals, aluminium fell 0.6% to $1,855 a tonne, zinc declined 0.3% to $1,900 a tonne and nickel was unchanged at $17,700 a tonne.