Copper prices in Europe have fallen in anticipation of the data from China and the US
copper prices in the first half of trading in Europe on Wednesday declined. Investors are waiting for the publication of important statistics from China and the United States. US data may help to predict the future dynamics of the Fed interest rates.
Three-month contracts on copper LME recently decreased by 0.2%, to 5 $ 600 per metric ton. Copper this week increased by about 2.7%, and over the past month has risen in price by 21% on upbeat prospects for global demand for the metal.
"The dynamics of (nonferrous metals) was so volatile over the last couple of weeks that the market needed breathing space", - said David Wilson of Citi.
Other important data that can affect the metals market, may become the final figures on China's trade in October. Initially it was expected that the data will be published earlier this week, but then it was announced the delay, Wilson added.
Other non-ferrous metals traded mixed on Wednesday. Aluminum rose by 0.06% to 1761.50 dollars per ton, lead was little changed and traded at 2199 dollars per ton, zinc fell 0.6%, to 2598 dollars per ton. Nickel increased by 0.04%, 11 to $ 350 per ton, and tin expensive by 0.6% to 21 $ 230 per ton.
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