Copper prices in London fell on Tuesday, as a firmer dollar made greenback-priced metals more expensive to holders of other currencies.
Three-month copper on the London Metal Exchange (LME) eased 0.5 percent to $8,788 per metric ton.
Aluminum was down 0.5 percent to $2,270.50, zinc rose 0.3 percent to $2,573 and lead advanced 0.2 percent to $2,153.50, and nickel rose 0.7 percent to $22,440.
The dollar strengthened after a survey from the Federal Reserve showed US banks reported tighter credit standards and weaker loan demand during the second quarter, a sign rising interest rates are having an impact on the economy.
Copper consumption is generally limited in the off-peak season, Jinrui Futures said in a note, adding that supply was also limited and short-term prices could rise further on the back of Chinese stimulus news.
China on Monday released further policy guidelines but no concrete measures to boost its economy. Beijing and Shenzhen said over the weekend that they would implement measures to better meet homebuyers’s needs, without giving details.
The most-traded September copper contract on the Shanghai Futures Exchange rose 1.6 percent to 70,600 yuan ($9,852.77) per metric ton, aluminium climbed 1.1 percent to 18,570 yuan, and zinc advanced 1.8 percent to 21,175 yuan.
