NEW DELHI: Copper prices in London edged lower on Monday, giving up early gains, following concerns over the demand outlook in top consumer China after data showed slowing industrial output growth.
Benchmark copper on the London Metal Exchange (LME) lost 0.1% at $9,438 a metric ton as of 0355 GMT.
China’s industrial output and retail sales growth slowed in April, official data showed on Monday, as a trade war threatened to dampen momentum in the world’s second-largest economy.
The country’s new home prices were unchanged for the second month in April, compared with a month earlier, official data showed, extending the no-growth trend to nearly two years despite policymakers’ efforts to stabilise the sector.
Separately, US Treasury Secretary Scott Bessent said in television interviews on Sunday that Trump will impose tariffs at the rate he threatened last month on trading partners that do not negotiate in “good faith” on deals.
“Trump’s volatile policymaking presents a persistent downside risk to our metal price forecasts in the coming months,” said BMI, a unit of Fitch Solutions.
Among other London metals, aluminium fell 0.5% to $2,468.5 a ton, zinc eased 0.3% to $2,684.5, lead gained 0.03% to $2,000.5 and nickel shed 0.3% to $15,595.
Demand concerns push copper prices lower
Tin added 0.2% to $32,875.
The most-traded copper contract on the Shanghai Futures Exchange (SHFE) fell 0.9% to 77,630 yuan ($10,758.93) per ton.
SHFE aluminium was down 0.1% to 20,130 yuan a ton, zinc dropped 0.2% to 22,480 yuan, lead dipped 0.4% to 16,870 yuan, nickel fell 0.5% to 124,100 yuan, and tin eased 0.3% to 264,760 yuan.
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