(MENAFN- Khaleej Times) Copper swung between gains and drops in London, set for a second monthly slide in three, as investors weighed better-than-expected US economic figures against a lack of physical demand. Aluminum fell for a ninth session.
"The US is not a big swing factor in base-metals demand," said Guy Wolf, a macro strategist at Marex Spectron Group in London. "It's much more about China. In base metals, there's been limited physical demand all year."
Copper for delivery in three months slipped 0.1 per cent to $7,862 a metric tonnes by 10:58 am on the LME after climbing as much as 0.8 per cent. Prices are down 3.7 per cent this month.
Copper for May delivery rose 0.1 per cent to $3.572 a pound on the Comex in New York. A report today may show the US economy expanded at a revised 0.5 per cent annualised pace in the fourth quarter from an initial 0.1 per cent contraction, according to a Bloomberg News survey.
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