LME Copper Steady at $13,152.50T as Chinese Buying Eases Ahead of Lunar New Year

Copper and aluminum held gains as the rally, fueled by Chinese buying, paused ahead of the Lunar New Year holiday. The metals rose in early January amid a weaker U.S. dollar and reduced bets on U.S. currency and sovereign bonds. On Shanghai exchange at 10:55 a.m. UTC, copper was down 0.2% to $13,152.50 per ton, reaching a record $14,527.50 on Jan 29. Aluminum was down 0.3% to $3,115 per ton as demand from China, the world’s largest consumer, is expected to moderate during the holiday period.