BEIJING: Copper prices weakened slightly on Wednesday, as renewed concerns over China’s economy dented demand outlook and a firm US dollar sparked pressure.

Three-month copper on the London Metal Exchange (LME) edged down 0.1% to $8,101.50 per metric ton by 0447 GMT, after recording a third consecutive monthly loss in October.

The most-traded December copper contract on the Shanghai Futures Exchange fell 0.3% to 67,210 yuan ($9,183.20) per ton.

Weakness in market sentiment was exacerbated by an unexpected contraction in China’s factory activity, showed by a private survey on Wednesday.

The Caixin/S&P Global manufacturing PMI fell to 49.5 in October from 50.6 in September, marking the first contraction since July and missing analysts’ forecasts of 50.8.

The 50-point mark separates growth from contraction.

That compounded the downbeat official manufacturing purchasing managers’ index (PMI) on Tuesday. October saw less demand for refined copper in China compared with September, reversing the market to a slight surplus, CITIC Futures said in a report.

China manufacturing data weighs on copper market sentiment

And ths situation is likely to extend as consumption in November is expected to slide further, it added.

Meanwhile, the dollar index was steadier in Asia hours, making the greenback-priced copper less attractive for holders of other currencies.

Investors are also awaiting the US economic figures, along with the Federal Reserve’s policy decision later in the day.

LME aluminium eased 0.3% at $2,245 a ton, tin shed 0.6% to $23,935, zinc nudged 0.3% lower to $2,423, nickel fell 0.7% to $18,000, while lead moved up 0.1% to $2,086.50.

SHFE aluminium slipped 0.1% to 19,185 yuan a ton, zinc dropped 1.1% at 20,930 yuan, lead shed 0.2% to 16,265 yuan, nickel fell 2.5% to 141,040 yuan, and tin lost 3.7% at 205,060 yuan.