Shanghai copper slipped on Tuesday after stagnating overnight, buoyed by a weaker dollar following a steep drop in Shanghai steel prices, while nickel continued its advance. The most-traded copper contract on the Shanghai Futures Exchange slipped 0.42 percent to 51,900 yuan ($7,876.53) a tonne.
A weaker dollar makes dollar-denominated assets such as copper cheaper for holders of other currencies. "Both metals (nickel and aluminium) are expected to see production output curtailed in the coming weeks on environmental grounds as the National Congress draws nearer," ANZ Bank said in a note. ShFE nickel climbed 1 percent, after having surged 3.3 percent in the previous session while ShFE aluminium ended 0.91 percent lower.