Copper steady on weaker dollar
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Copper was steady on Tuesday as the euro rose against the dollar after data showed Germany, Europe's largest economy, was holding up despite the debt crisis, but signs of scant buying from top consumer China limited gains.
Three-month copper on the London Metal Exchange was $8,457 a tonne by 10:30 GMT, up 0.4 per cent from Monday's close.
WARNING SIGNS
“There are some warning signs coming out of China...The picture of looser Chinese demand has been confirmed by the latest weekly inventory data from the Shanghai Futures Exchange (SHFE),” Credit Suisse said in a research note.
But it added that any weakness in Chinese consumption was likely to be short-lived, given recent indications that global growth was stabilising.
Tin was at $24,790 from $25,000 at Monday's close while zinc was at $2,069. Lead was $2,121 and aluminium was $2,222 from $2,211. Nickel was at $20,520 from $20,550
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Source : Business
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