On the Shanghai Futures Exchange, the most-traded June
copper contract ended daytime trade 0.5% lower at
68,080 yuan ($9,853.67) a tonne.
Caution prevailed as investors await a mix of U.S. economic
data later this week, which could provide more clues on the
Fed's next policy move.
Weak demand in top metals consumer China and rising concerns
that the U.S. Treasury Department could hit its debt limit in
the coming months were also seen capping metals prices.
These factors "may restrain copper prices to a certain
extent", analysts at Huatai Futures said in a note.
"But on the other hand, if the Federal Reserve speeds up interest rate cut expectations in the future, copper prices may also benefit in the process."
The U.S. dollar index dropped 0.4% overnight and hit a 10-day low of 101.19 in early Asian trade, making greenback-priced metals cheaper for holders of other currencies.
LME aluminium dropped 0.6% to $2,367 a tonne, nickel shed 1.1% to $24,320 a tonne, lead fell 0.8% to $2,126 a tonne, tin lost 1.2% to $26,315 a tonne, while zinc declined 0.2% to $2,665 a tonne. On the Shanghai exchange, aluminium fell 0.5% to 18,800 yuan a tonne, zinc dropped 1.7% to 21,355 yuan a tonne, lead slipped 0.1% to 15,295 yuan a tonne and tin shed 0.3% to 212,490 yuan a tonne, while nickel gained 0.1% to 183,140 yuan a tonne. For the top stories in metals and other news, click or ($1 = 6.9091 yuan)
(Reporting by Enrico Dela Cruz in Manila; Editing by Rashmi Aich and Sonia Cheema)
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