Copper higher

Sydney

Copper tracked modestly higher on Friday with traders saying some investors were active buying on price dips, but warning at the same time that broader industry sentiment pointed to a weaker outlook.

Three-month copper on the London Metal Exchange was up 0.4 percent to $5,714 a tonne, reversing losses from the previous session. The most-traded copper contract on the Shanghai Futures Exchange was up 0.2 percent to 46,330 yuan ($6,719)a tonne.

The pace of expansion in China´s manufacturing sector likely slowed this month, a Reuters poll showed, as factory-gate price-growth slowed and authorities moved to tackle risks in the property market and credit growth. Data is due on Sunday, April 30. Philippine Environment Secretary Regina Lopez said on Thursday she will ban open-pit mining in the country, toughening a months-long crackdown on the sector she blames for extensive environmental damage.