Sydney: London Metal Exchange copper rose 0.3 percent to $6,478.50 a tonne by 0554 GMT. On Friday, prices fell to their lowest since Aug. 16 at $6,366.
Shanghai Futures Exchange copper rose 0.9 percent to 50,320 yuan($7,619). London zinc and nickel rose on Monday, rebounding from declines in the previous session, but price gains were limited as investors remained cautious on the outlook for the economy in China, the world´s top metal consumer, and for the U.S. dollar.
Investors had been encouraged to cash-in profits in a recently rising metals market after China´s economic growth showed signs of slowing in August, said Dominic Schnider of UBS Wealth Management in Hong Kong, suggesting any bounce may prove short-lived.
"I can´t get excited (about metals) I´m sorry to say. Chinese numbers have not really been hinting in the right direction from a fixed-asset investment point of view.”
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