LONDON: Copper slipped on Thursday on worries about China capping commodities prices to curb inflation and as investors locked in profits after a rally. Three-month copper on the London Metal Exchange was down 0.4% at $9,408 a tonne by 1550 GMT.
Prices slipped as investors locked in profits from a rally that has lifted LME copper by 20% since the start of February, while others took the opportunity to add to positions, said Carsten Menke, analyst at Julius Baer in Zurich. The Yangshan copper premium fell to $48 a tonne, while ShFE copper inventories were last at an 11-month high of 202,464 tonnes. LME aluminium was little changed at $2,364 a tonne, zinc fell 0.4% to $2,803, nickel fell 0.9% to $16,050, lead gained 0.6% to $2,035 and tin dropped up 0.7% to $26,760.
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