Oct 5 (Reuters) – Copper prices fell on Tuesday in London on a firmer dollar, but trade was tepid as markets in top consumer China were closed for a public holiday and ahead of key U.S. jobs data this weekend.
Three-month copper on the London Metal Exchange CMCU3 edged down 0.2% to $9,235 a tonne by 0325 GMT, while aluminium CMAL3 was almost unchanged at $2,915 a tonne, nickel CMNI3 rose 0.4% to $18,000 a tonne, zinc CMZN3 advanced 0.6% to $3,034 a tonne.
The dollar index .DXY rose, making greenback-priced metals more expensive to holders of other currencies.
Financial markets are also awaiting U.S. payrolls data at the end of the week for cues on the timing of a tapering of Federal Reserve stimulus and the start of interest rate hikes.
China is on holiday from Oct. 1-7. CN/HOLIDAY
FUNDAMENTALS
* Chile’s top miners saw their production of copper fall in August, Chilean state copper commission Cochilco said on Monday, impacted in part by a strike at a mine owned by state miner Codelco.
* Global copper smelting activity rebounded in September as higher treatment charges spurred many smelters to increase output, data from satellite surveillance showed on Monday.
* For the top stories in metals and other news, click
TOP/MTL or MET/L MARKETS NEWS
* Asian shares suffered heavy losses early following a broad sell-off on Wall Street, as markets fretted about the impact of multi-year high oil prices at a time when supply chain disruptions are already putting pressure on economic activity. MKTS/GLOB DATA/EVENTS (GMT)
0750 France Markit Serv, Comp PMIs Sept
0755 Germany Markit Services PMI Sept
0755 Germany Markit Comp Final PMI Sept
0800 EU Markit Serv, Comp Final PMIs Sept
0830 UK Reserve Assets Total Sept
1230 US International Trade Aug
1345 US Markit Serv, Comp Final PMIs Sept
1400 US ISM N-Mfg PMI Sept
(Reporting by Mai Nguyen in Hanoi; Editing by Rashmi Aich)
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