Copper lower

Reuters

Melbourne

London copper was marking time on Wednesday, underpinned by a softer dollar and expectations that China´s metal demand will slowly and steadily improve into the fourth quarter.

Volumes were low with the top copper consumer China midway through a week of holidays.

"We do not expect to see much change in the metal markets given that China is out this week, but have to suspect that the recent collapse in gold and a reviving dollar could start impacting prices at some point," Ed Meir of INTL FC Stone said in a report.

"An inflection point could come on Friday when the U.S. nonfarm payroll comes out.  A stronger-than-expected number should boost the dollar further and increase the pressure on commodities.

"Three-month copper on the London Metal Exchange had edged down 0.3 percent to $4,792.50 a tonne by 0132 GMT, following small losses in the previous session.