Shanghai Futures Exchange copper edged down as much as 0.4 percent to 45,780 yuan ($6,645) a tonne on Wednesday after credit ratings agency Moody's downgraded China due to its massive debt, with muted trade expected ahead of the release later in the session of minutes from the Federal Reserve's last meeting.
"After a set of less-than-positive US data, a debt (agency) downgrading China, Noble struggling ... and the banks reporting a 29-percent drop in commodities revenue, the markets were always going to struggle and struggle they are," said Kingdom Futures in a report.
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