BEIJING: Copper prices opened the week on a softer note as macro-economic uncertainty persisted and investors waited for more clues on demand outlook of the metal.
Three-month copper on the London Metal Exchange was down 0.4% to $8,827.50 per metric ton by 0211 GMT, while the most-traded September copper contract on the Shanghai Futures Exchange dipped 0.1% to 71,370 yuan ($9,948.15) a ton.
Prices of copper, often seen as an economic bellwether, dropped early last week as fears over a recession of US economy triggered sharp sell-offs among financial markets.
Sentiment improved after data showed on Thursday that Americans filing new applications for unemployment benefits fell more than expected.
US will release its consumer prices on Wednesday where economists look for rises of 0.2% in both the headline and core, with the annual core slowing a tick to 3.2%.
China will issue figures on retail sales and industrial production on Thursday, which are expected to show the economy continuing to underperform, underlining the need for more stimulus. Demand of the metal used in power and construction sector slowed this year.
Copper rallies as US growth fears ease and Chinese stocks slide
However, recent price falls have encouraged more purchases in China.
LME aluminium steadied at $2,302 a ton, nickel slid 0.3% to $16,100, lead increased 0.4% to $2,046.50, tin added 0.2% to $31,350 and zinc was 0.1% lower at $2,734.
SHFE aluminium was nearly flat at 10,095 yuan a ton, nickel dropped 1.3% to 127,880 yuan, zinc gained 2.2% to 22,885 yuan, lead rose 1.4% to 17,930 yuan, and tin advanced 1% to 255,970 yuan.
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