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London copper inches higher even as need concerns continue

London copper prices inched upward on Wednesday after heavy selloffs sent out the marketplace to a. twoweek low in the previous session, while concerns over worldwide. economic outlook and demand for the industrial metal still. weighed on belief.

Three-month copper on the London Metal Exchange was. up 0.5% at $9,000.50 per metric heap, since 0146 GMT. The. contract fell 2.5% on Tuesday to its lowest level because Aug. 13.

The most-traded October copper contract on the Shanghai. Futures Exchange lost 1.8% to 72,110 yuan ($ 10,140.48). a lot.

U.S. manufacturing contracted at a moderate rate in August. amidst some enhancement in work, however an additional decline in. brand-new orders and higher inventory recommended factory activity could. remain subdued for a while.

The data fanned stress over a tough landing for the world's. most significant economy, with traders currently anxious ahead of essential. U.S. month-to-month payrolls information on Friday.

Likewise weighing on need outlook was the lacklustre. production activity in top customer China, as signified by. its August official study, and slower growth in new home. prices, despite procedures to increase residential or commercial property sales.

LME aluminium edged 0.2% greater to $2,412 a ton,. nickel moved 0.4% to $16,396, zinc was flat at. $ 2,847, lead increased 0.4% to $2,057.50 and tin. added 0.2% at $30,790.

SHFE aluminium slipped 0.7% to 19,410 yuan a load,. lead shed 0.3% to 17,225 yuan, nickel fell 2.2%. to 125,950 yuan, zinc was flat at 23,665 yuan and tin. lost 1.7% to 251,540 yuan.

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(source: Reuters)