Copper Still Rising After Chile Earthquake
Copper had hit nearly two-month highs after a massive earthquake in top producer Chile but since retreated as reports showed little damage to mines so far.
Most base metals prices declined as investors refocused on concerns about demand in the biggest consumer, China, and ahead of a decision on US interest rates later in the day.
"Copper hasn't been showing huge conviction recently because there's still this worry about the demand side.
"Also, today's not the day for taking big bets in either direction ahead of the Fed decision this evening."
Three-month copper on the London Metal Exchange closed up 0.4 per cent at $US5,400 a tonne after hitting its highest since July 22 at $US5,440.50 following initial reports of the Chile quake.
LME zinc sagged 1.4 per cent to $US1,726; nickel slid 1.5 per cent to $US9,995; aluminium added 0.3 per cent to $US1,632; lead dropped 0.7 per cent to $US1,722 and tin shed 0.2 per cent to $US15,500.