The most-traded copper contract on the Shanghai Futures Exchange (ShFE) dipped 0.8 percent to 48,660 yuan ($7,074) a tonne on Wednesday, tempered by signs home prices in China are cooling. Also some traders took profits and reduced their positions ahead of the release of US Federal Reserve minutes that could push the dollar higher. However, supply concerns limited the declines.
ShFE aluminium was down 2 percent. China's home price growth slowed for the fourth straight month as demand cooled further in the biggest cities, official data showed on Wednesday, signalling government curbs to defuse a bubble.