NEW DELHI, June 26 (Reuters) - Copper futures eased on
Wednesday, as a stronger dollar and weak demand outlook in top
consumer China weighed on the market.
Three-month copper on the London Metal Exchange was
down 0.4% at $9,533 per metric ton as of 0220 GMT.
The dollar was firm on Wednesday and trading on the
precipice of the 160-yen barrier as investors turned cautious
and counted down to the release of U.S. price data at the end of
the week.
A firmer dollar makes greenback-priced metals more expensive
to holders of other currencies.
The most-traded July copper contract on the Shanghai Futures
Exchange was down 1.5% at 77,630 yuan ($10,684.60) a
ton.
"The red metal has been under pressure in recent days
following weak economic data," ANZ Research said in a note.
"The global outlook for manufacturing remains poor after
flash PMIs in Europe and the US. This has been compounded by
rising inventories for metals such as aluminium, copper and
nickel."
LME aluminium was 0.2% lower at $2,490 a ton, nickel
edged up 0.3% to $17,210, zinc slipped 0.1% to
$2,868, lead eased 0.1% to $2,207, and tin fell
1.4% at $31,805.
SHFE aluminium eased 0.8% to 20,195 yuan a ton,
nickel fell 0.5% to 134,220 yuan, lead was up
1.4% to 19,125 yuan while zinc was down 0.04% to 23,690
yuan and tin slumped 3.5% to 263,320 yuan.
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DATA/EVENTS (GMT)
1000 France Unemp Class-A SA May
1400 US New Home Sales-Units May
($1 = 7.2656 Chinese yuan)
(Reporting by Neha Arora; Editing by Janane Venkatraman
)