Base metals on the London Metal Exchange (LME) have closed mixed as investors wait for fresh cues as support from upbeat Chinese trade data waned.
At the close of open-outcry trading on Thursday, LME three-month copper was 0.6 per cent lower on the day at $US7,110 per metric ton.
Aluminium rose 0.3 per cent to $US1,740 per ton.
Positive trade data from China in the previous session allayed fears of an economic slowdown in the nation, which accounts for around 40 per cent of global copper demand and sent prices higher before profit-taking set in Thursday.
"LME trading was quietly range-bound ... sellers were evident at the higher levels," noted Sucden Financial in a note to clients.
The broker said that tin's strong close could see it move toward the $US23,000 per ton level before long. The metal, which is the most thinly traded of the LME metals and recently rose to its highest value for nearly a month, closed 45 US cents higher at $US22,575 a ton.
"From the US, jobless claims were higher, by 8,000, but January retail sales fell 0.4 per cent month-on-month which was worse than expected and sent shivers through equity markets," noted Sucden analysts.
This kept base metals in check, as the LME complex tends to rise with improved risk appetite in global markets, and fall amid mounting risk aversion.
