(Updates prices to Asia market close)
By Lucas Liew
Sept 2 (Reuters) - Copper prices ended lower across
major exchanges on Tuesday, as trade war worries and a firmer
dollar weighed on broader sentiment, though robust Chinese
demand capped losses.
Three-month copper on the London Metal Exchange was
down 0.02% at $9,882 per metric ton, as of 0714 GMT, while the
most-traded copper contract on the Shanghai Futures Exchange
lost 0.06% to 79,660 yuan ($11,136.74) a ton.
Despite concerns that the trade war would weigh on copper
consumption, as well as expectations of falling prices after the
U.S. refrained from imposing import tariffs on refined metal,
copper demand has proven resilient, supported by strong activity
in China, said analysts from ANZ on Tuesday.
Analysts from ING noted that the upcoming U.S. jobs report
this Friday will be the focus for the market, with expectations
of a weakening labour market reinforcing the case for potential
rate cuts.
Broadly, a private PMI survey showed that China's factory
activity in August expanded at the quickest pace in five months
on rising new orders.
Still, the dollar index, which measures the U.S.
currency against six major peers, was last up 0.2% at 97.873.
A firmer dollar makes greenback-denominated assets less
affordable to holders of other currencies.
Among other London metals, aluminium climbed 0.23%
to $2,617 a ton, zinc rose 0.41% to $2,844, while nickel
dipped 0.9% to $15,300, lead fell 0.67% to
$1,990, and tin eased 0.22% to $34,875.
SHFE aluminium rose 0.24% to 20,720 yuan, lead
edged 0.06% higher to 16,850 yuan, tin
strengthened 0.08% to 273,980 yuan, and zinc climbed
0.59% to 22,325 yuan, while nickel lost 0.2% to 122,530
yuan.
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($1 = 7.1529 Chinese yuan)