SHANGHAI- London copper edged down on Monday after China’s economic data showed a mixed recovery among different sectors, while a softer US dollar lent some support.
Three-month copper on the London Metal Exchange (LME) edged down 0.1 percent to $9,040.5 per metric ton.
The most-traded January copper contract on the Shanghai Futures Exchange was down by 0.4 percent to 74,400 yuan ($10,218.80) a ton.
China’s industrial output quickened slightly in November, while retail sales disappointed, keeping pressure on Beijing to ramp up stimulus for a fragile economy as it braces for more US trade tariffs under a second Donald Trump administration.
A lack of clarity around China’s stimulus measures weighed on copper prices last week, although LME data showed rising amounts of metal waiting to leave its registered warehouses.
A weaker dollar supported the market, making it less expensive to buy the greenback-priced commodity.
The Federal Reserve will lead the pack on Wednesday with markets pricing a 96 percent probability it will cut rates by 25 basis points.
LME aluminum was down 0.2 percent at $2,599 a ton, zinc fell 0.4 percent to $3,082, lead was relatively unchanged from last closing price at $2,010.5, tin fell 0.2 percent to $29,040, while nickel was down 0.3 percent to $15,815.
