Oct 15 (Reuters) –Copper prices slipped on Tuesday, pressured by a firmer U.S. dollar and uncertainty about top consumer China’s economic recovery following lacklustre economic data and a lack of detail on stimulus plans.
The most-traded November copper contract on the Shanghai Futures Exchange (SHFE) SCFcv1 dipped 0.7% to 76,970 yuan ($10,855.98) a ton.
Three-month copper on the London Metal Exchange (LME) CMCU3 fell 0.1% to $9,648 per metric ton by 0140 GMT.
The dollar was perched at a more than two-month high, making greenback-priced commodities more expensive to other currency holders. USD/
One data set showed China’s export growth slowed sharply in September and imports decelerated unexpectedly. While another report over the weekend noted a deepening producer price deflation , heightening pressure on Beijing to roll out more stimulus measures.
China pledged on Saturday to “significantly increase” debt to stimulate growth, but officials provided no specific information on the size or the timing of the package.
Meanwhile, China’s unwrought copper imports rose in September to 479,000 tons, up 15.4% from August.
SHFE aluminium SAFcv1 was down 0.5% at 20,770 yuan a ton, nickel SNIcv1 fell 0.9% to 134,050 yuan, zinc SZNcv1 shed 1.7% to 26,3550 yuan, lead SPBcv1 declined 1.7% to 16,490 yuan and tin SSNcv1 ceded 1.7% to 263,550 yuan.
LME aluminium CMAL3 was flat at $2,593.50 a ton, nickel CMNI3 lost 0.2% to $17,640, zinc CMZN3 dropped 0.5% to $3,067, lead CMPB3 decreased 0.5% to $2,054 and tin CMSN3 eased 0.2% at $32,380.
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Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Sumana Nandy
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