Shanghai Futures Exchange copper slipped 0.4 percent to 51,320 yuan ($7,75) a tonne and Shanghai rebar cut gains to 1.5 percent, while Dalian iron ore turned negative having advanced earlier as much as 4 percent in Asian trade on Monday. China's exports and imports had unexpectedly accelerated last month in an encouraging sign for the world's second-biggest economy, though analysts expect growth to continue cooling amid a government crackdown on financial risks and polluting factories.
"Base metal prices... found some support in the Chinese trade data. However, the gains were muted as investors remained cautious leading into the year-end," ANZ said in a report. China's zinc production fell by 1.1 percent year-on-year in November to 423,000 tonnes, said Antaike. The state-backed research firm expects 2017 production to drop by 60,000 tonnes-80,000 tonnes year-on-year.
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