Shanghai Futures Exchange copper fell 1 percent to 37,810 yuan ($5,662) a tonne on Tuesday as the appetite for risk among investors fell, and volumes dwindled ahead of the US Federal Reserve's policy meeting starting later in the session. Caution gripped Asian markets on Tuesday, sending the safe-haven yen higher ahead of central bank meetings in the United States and Japan, while a fresh skid in oil dampened energy stocks on Wall Street.
"Investors are likely to remain bearish going into the FOMC meeting this week as the USD strengthens and fundamentals remain weak," ANZ said in a note. Grupo Mexico's April-June production of copper was up 22.7 percent at 266,071 tons from the same period of 2015, while its output of zinc jumped by 43 percent.
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