The most-traded December copper contract on the Shanghai Futures Exchange climbed 0.8 percent to 48,030 yuan ($7,820) a tonne on Tuesday, while ShFE zinc rose 2.5 percent as shorts took profits ahead of the holiday. Traders were squaring their books ahead of a week-long holiday in China. The ShFE will be closed from Wednesday.
A private sector reading of China's factory health fell slightly from initial estimates, with the metal facing its steepest monthly loss since March on a looming jump in supply. "Copper is in a downtrend at the moment and we could see that persist for a little while longer based on USD strength and concerns that have been reignited over Chinese demand," said analyst Tim Radford at Sydney-based advisor Rivkin.
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