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METALS-Copper prices edge lower on China stimulus uncertainty
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METALS-Copper prices edge lower on China stimulus uncertainty
Dec 8, 2024 11:50 PM

(Updates prices after Shanghai market close, adds China data in

paragraphs 2 and 7)

Dec 9 (Reuters) - London copper prices edged lower on

Monday as uncertainty over any fresh stimulus signals from

China's leaders this month weighed on sentiment.

Data showing persistent disinflationary pressures in the

metal's top consumer China also soured the mood.

The three-month copper contract on the London Metal Exchange

(LME) shed 0.4% to $9,160 per metric ton, as of 0731

GMT.

The most-traded January copper contract on the Shanghai

Futures Exchange (SHFE) was up 0.3% to 74,740 yuan

($10,269.30).

The market's focus is on China's Central Economic Work

Conference meeting this month, where the country's top leaders

will set economic growth targets for 2025.

So far, investors have faced disappointment due to the lack

of aggressive fiscal stimulus measures by China to boost its

sluggish economy.

"Any signals for higher monetary or fiscal stimulus will be

well received - although it does appear as though markets have a

default setting of being disappointed by Chinese stimulus

efforts so far," said Natalie Scott-Gray, senior metals analyst,

EMEA & Asia at StoneX.

China's consumer inflation hit a five-month low in November

as fresh food prices pulled back while factory deflation

persisted, suggesting Beijing's recent efforts to shore up

faltering economic demand are having limited impact.

LME aluminium fell 0.3% to $2,597 a ton, lead

decreased 0.1% to$2,070, nickel eased 0.3% at

$16,005, tin dipped 0.1% at $29,125, while zinc

added 0.4% at $3,083.5.

SHFE aluminium lost 0.4% to 20,340 yuan a ton, zinc

declined 0.1% to 25,590 yuan, lead fell 0.1%

at 17,740 yuan, while tin gained 0.3% at 244,450 yuan

and nickel rose 1.4% to 127,000 yuan.

For the top stories in metals and other news, click

or

($1 = 7.2780 Chinese yuan)

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