LONDON: Copper remained steady as few investors bet that a floor had been touched after heavy losses. On the other hand, tin reached a fresh 2-1/2 year low on worries about weak demand.
Three-month copper on the London Metal Exchange ended up 0.09 percent at $5,600 a ton, paring losses of 1.4 percent from the previous session when it hit its lowest in a week.
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Prices have stabilised in a range after last month’s five-and-a-half-year low of $5,339.50 a ton.
“Copper is trying to look for a bottom, but there are plenty of things that can go wrong, revolving around Ukraine and Greece in particular, and in the background the concern about the extent of the slowdown going on in China,” said Stephen Briggs, metals strategist at BNP Paribas in London.
European stocks and the euro fell as euro zone meetings on the Greek debt crisis threatened to give rise to confusion rather than clarity.
