Copper prices eased on Tuesday as the dollar firmed, while weak economic data from top metals consumer China suggested a gloomy demand outlook, denting sentiment.
Three-month copper on the London Metal Exchange was down 0.4 percent at $8,365.50 per metric ton, while the most-traded August copper contract on the Shanghai Futures Exchange edged up 0.1 percent at 68,110 yuan ($9,412.40) per metric ton.
Chinese factory activity slowed in June, reinforcing the fact that demand for metals was under pressure, though there were expectations the government would undertake more stimulus measures to shore up the economy.
The dollar which has been rising since mid-June on expectations of further U.S. rate hikes, was steady. A firmer dollar makes greenback-priced metals more expensive to holders of other currencies.
Copper prices, however, were supported by low inventories.
Combined copper stockpiles in LME, SHFE, COMEX and China bonded warehouses were last at 225,018 tons, down 55 percent from March and equivalent to only three days of global copper consumption in 2022, Refinitiv Eikon data showed.
LME aluminum eased 0.2 percent to $2,154 per metric ton, nickel shed 0.3 percent to $20,520, lead fell 0.4 percent to $2,084.50, tin dropped 0.8 percent to $27,155, while zinc was almost unchanged at $2,365.50.
