Copper prices fell on Tuesday in an atmosphere of caution as investors sold the metal before the start of a meeting of the U.S. Federal Reserve and new economic reports.
The copper in London Metal Exchange (LME, for its acronym in English) was trading at $ 6410 a tonne at 1030 GMT from $ 6550 to close on Monday, when it rose by strong U.S. manufacturing indicators and China.
The Fed meeting begins on Tuesday two-day monetary. Investors are focused on what he might say the central bank on economic growth and the future direction of official interest rates.
"There is much nervousness, but there are some strong signs of recovery in the U.S.," said John Meyer, analyst at investment bank Fairfax.
The market also expects the monthly employment report that the U.S. government will on Friday.
"If the unemployment rate exceeds the psychological barrier of 10 percent, that would impact the financial confidence (...) but given yesterday's manufacturing numbers, the number of unemployment could be better than expected," Meyer said.
It is projected that the unemployment rate stood at 9.9 percent in October from 9.8 percent in September. Payrolls of companies have fallen at 175,000, against a previous reduction of 263,000.
Vehicle sales in the U.S. in October are due on Tuesday, and that could affect base metals, particularly aluminum, which was trading at $ 1890 from $ 1915 on Monday.
Zinc was quoted at $ 2160 a tonne from $ 2195 on Monday, lead from $ 2241 to $ 2298, nickel from $ 17,750 to 18,060 and tin from $ 14,600 to 14,775 on Monday.
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