Copper, aluminium inventories drop

LONDON: Copper dipped on Wednesday, tracking US and European equities lower after the release of data from the United States, the world’s largest economy. Copper for three-months delivery on the LME was at $6,644.75 a tonne at 1452 GMT, versus a close of $6,685 a tonne on Tuesday when it touched a one-week low during the session. Aluminium was at $2,000.50 a tonne from $1,995 a tonne on Tuesday and inventories of the metal last dropped by a hefty 7,650 tonnes to 4.38 million tonnes. Steel-making ingredient nickel was at $19,370 a tonne from $19,550 while battery material lead traded at $1,808.25 from $1,826. Zinc was at $1,831.25 from $1,865 and tin was at $17,890 a tonne, after matching a two-week high of $18,100 a tonne first struck on Tuesday. reuters