Copper prices fell on Thursday in London, tracking Asian equities lower, as traders and investors were cautious ahead of a key meeting in China that will set the economic agenda in the world’s biggest consumer of the metal.
Three-month copper on the London Metal Exchange fell 0.4 percent to $9,064 a ton, while the most-traded April copper contract on the Shanghai Futures Exchange advanced 0.4 percent to 69,940 yuan ($10,154) a ton.
LME aluminium dipped 0.1 percent to $2,428 a ton, zinc edged down 0.3 percent to $3,106.50 a ton, lead fell 0.8 percent to $2,124 a ton and tin shed 0.6 percent to $25,190 a ton.
SHFE aluminium rose 0.6 percent to 18,655 yuan a ton, nickel dropped 3.4 percent to 187,580 yuan a ton, tin fell 0.7 percent to 204,950 yuan a ton while zinc advanced 0.9 percent to 23,540 yuan a ton.
A rally in Asian shares sputtered, pressured by a pullback in Chinese stocks and higher US yields amid fears that global central banks would keep raising interest rates to combat sticky inflation.
The dollar index gained 2.7 percent in February, the biggest monthly rise since September 2022, making greenback-priced metals more expensive to holders of other currencies.
