PHOTO
Copper prices were set on Thursday for a monthly fall, weighed down by disappointment over the slew of stimulus measures announced so far by top consumer China.
Three-month copper on the London Metal Exchange (LME) rose 0.3% to $9,565 per metric ton by 0336 GMT, while the most-traded December copper contract on the Shanghai Futures Exchange (SHFE) eased 0.1% to 76,560 yuan ($10,752.51) a ton.
On a monthly basis, LME copper was down 2.8% and SHFE copper was 2.9% lower.
In late September, metals prices surged after China unveiled a series of economic support programmes and following an interest rate cut in the United States.
However, the scale of the stimulus measures and lack of details have disappointed market participants. And, the uncertainty surrounding the U.S. presidential election has kept some traders and investors on the sidelines.
China's top legislative body will meet from Nov. 4-8, where market participants hope Beijing will announce more measures for its economy.
Metals prices on Thursday were supported by data showing manufacturing activity in China expanded for the first time in six months October, indicating that latest stimulus measures are helping the battered economy turn a corner.
"It's good news for sure, but (prices) are being over-shadowed by government policy," said a trader.
LME aluminium rose 0.2% to $2,620.50, zinc edged up 0.1% at $3,090, tin climbed 1% to $31,250, while lead eased 0.1% to $2,002 and nickel was almost unchanged at $15,810.
SHFE aluminium fell 0.5% to 20,720 yuan a ton, nickel declined 0.7% to 123,500 yuan, zinc edged down 0.3% to 25,005 yuan, tin fell 0.1% to 255,200 yuan, while lead rose 0.2% to 16,665 yuan.
($1 = 7.1202 yuan)
(Reporting by Mai Nguyen in Hanoi; Editing by Subhranshu Sahu)