MANILA, Oct 24 (Reuters) - Copper prices edged lower on Wednesday, reflecting investor doubts over plans by top consumer China to reinvigorate the world’s No. 2 economy after growth slowed to the weakest since 2009 in the latest quarter.
China said earlier this week that it will roll out more policies to support private companies, including measures to help them raise funds in capital markets, after data last week showed its third-quarter gross domestic product growth slowed to 6.5 percent, the least since the first quarter of 2009.
China’s main stock indexes resumed a downward spiral on Tuesday, a day after the blue-chip index posted its biggest gains in nearly three years, as investors remained pessimistic about economic prospects and worried about risks posed by shares pledged for loans.
Three-month copper on the London Metal Exchange was down 0.2 percent at $6,186 a tonne by 0122 GMT. The most-traded December copper contract on the Shanghai Futures Exchange eased 0.5 percent to 50,100 yuan ($7,220) a tonne.
* CHINA ALUMINA: China’s alumina exports in September surged more than fivefold from August to 165,839 tonnes, the highest monthly volume this year.
* ALUMINIUM PRICES: LME aluminium rose 0.5 percent to $2,010 a tonne, but not far above 6-1/2-month lows reached last week. In Shanghai, aluminium gained 0.6 percent to 14,250 yuan a tonne.
* EQUITIES: Asian stocks edged up as a late round of buying helped Wall Street indexes pare most of their earlier panic-driven losses, although crude oil struggled near two-month lows after Saudi Arabia flagged possible supply increases.
* CERRO MATOSO: The Cerro Matoso nickel mine, owned by Australian miner South32, owes more than $56 million in unpaid royalties to Colombia, the country’s comptroller said.
0645 France Business climate manufacturing Oct
0715 France Markit manufacturing PMI Oct
0730 Germany Markit manufacturing PMI Oct
0800 Euro zone Markit manufacturing PMI Oct
1300 U.S. Monthly home price index Aug
1345 U.S. Markit manufacturing PMI Oct
1400 U.S. New home sales Sep
1800 Federal Reserve issues Beige Book of economic condition
Three month LME copper
Most active ShFE copper
Three month LME aluminium
Most active ShFE aluminium
Three month LME zinc
Most active ShFE zinc
Three month LME lead
Most active ShFE lead
Three month LME nickel
Most active ShFE nickel
Three month LME tin
Most active ShFE tin
ARBS ($1 = 6.9392 Chinese yuan)
Reporting by Manolo Serapio Jr.; editing by Richard Pullin