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Copper falls slightly on Chinese data

Bnamericas Published: Monday, April 11, 2016
Copper falls slightly on Chinese data

The price of copper fell slightly on Monday in London, after better-than-expected economic figures out of China, its main consumer.

Spot copper closed just 0.19% lower at US$4,645/t (US$2.107/lb) on the London Metal Exchange from Friday's US$4,654/t, according to Chilean state copper commission Cochilco.

"After suffering significant losses last week, the majority of metal prices are making a positive start to the new week of trading," said a note from Commerzbank.

"Prices are finding support from firm Chinese stock markets and better than expected data in China," said the German lender, noting that while producer prices dropped by 4.3% year-on-year in March, "the decline was not as pronounced as predicted."

Aluminum closed 0.1% higher on Friday at US$1,493.50/t and lead was 0.2% higher at US$1,686/t, while nickel was up 1.8% to US$8,555/t. Zinc was down 0.1% at US$1,742.50/t, tin was 1.2% higher at US$17,025/t and molybdenum was steady at US$12,300/t.

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