BEIJING: Copper prices opened lower on Monday, with pressure from a steady dollar and investors cautiously waiting for economic data from the US and China this week for more clues on demand outlook.
Three-month copper on the London Metal Exchange slid 0.3% to $8,553 per metric ton by 0200 GMT, after a slight weekly decline in the previous week.
The most-traded September copper contract on the Shanghai Futures Exchange was down 0.4% to 69,030 yuan ($9,601.77) per metric ton.
The dollar index was firmer on Monday, pressing downwards pressure on the greenback-priced commodity.
A mixed jobs report last Friday showed the US economy added fewer jobs than expected in July, but solid wage gains and a decline in the unemployment rate back to 3.5% pointed to continued tightness in labor market conditions.
Global investors are focusing on US and China inflation data due later this week.
Copper heads for a flat week, focus on US data, China demand
Participants were wary of metals demand in China, given the policy measures so far failed to excite the market and signal promising demand for industrial metals.
In China, market tightness bolstered copper premium in spot market to an one-month high last week at 285 yuan a metric ton.
Supply is expected to improve in August as many smelters resume production after summer maintenance.
LME aluminium dipped 0.1% at $2,229.50 a metric ton, zinc shed 0.2% to $2,498, nickel declined 0.4% to $21,220, while lead added 0.3% to $2,133.50, tin nudged 0.2% up to $27,750.
SHFE aluminium eased 0.1% to 18,490 yuan a metric ton, lead dropped 0.6% to 15,885 yuan, nickel fell 2.3% to 165,740 yuan, tin slipped 0.7% at 227,980 yuan, zinc gained 0.1% at 18,490 yuan.
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