Copper prices fell on Wednesday as weak retail sales data in China fuelled concerns over cooling growth in the world's top copper consumer. The most-traded copper contract on the Shanghai Futures Exchange lost 0.2 percent to settle at 48,820 yuan ($7,027) a tonne. Shanghai aluminium edged down 0.4 percent.
China delivered a mixed economic report card for October with retail sales growing at its slowest pace since May and pointing to a consumption slowdown, even as a pick-up in industrial output and investment suggested support measures may be starting to take hold.
"The retail sales (growth) number just announced slowed quite a lot. That is really a big concern," said Helen Lau, an analyst at Argonaut Securities.
"There's a slight improvement in investment that showed the government's physical support as they have promised, but ... it's not satisfactory because the loan growth number is very disappointing," Lau said.
The weak retail sales number came after Tuesday's data showing that China's loan growth slowed sharply in October despite pressure by regulators on banks to help keep cash-starved companies afloat.
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