NEW DELHI, Nov 16 (Reuters) -
Copper prices fell slightly on Thursday, easing from near six-week highs, as the U.S. dollar firmed up on economic data that signalled the Federal Reserve will likely wait longer before cutting interest rates.
Three-month copper on the London Metal Exchange (LME) was down 0.4% at $8,236 a metric ton by 0230 GMT.
Meanwhile, the most-traded December copper contract on the Shanghai Futures Exchange (SHFE) edged up 0.1% to 67,760 yuan ($9,336.29) a ton.
The dollar drew support from better-than-expected retail sales numbers and more signs of cooling inflation, feeding into the narrative for an economic 'soft landing' which would allow the Fed more time before cutting rates.
A stronger greenback makes dollar-priced commodities more expensive for holders of other currencies.
Copper prices had touched a near-six week high on Wednesday after positive industrial production data from top consumer China boosted sentiment, but gains were constrained by weakness in the country's property sector and a stronger dollar.
"Rising expectations of further stimulus from China provided a further boost to the complex," ING said in a note.
LME aluminium eased 0.3% to $2,227 a ton, nickel fell 0.2% to $17,385, zinc eased 1.3% to $2,622.50, lead decreased 0.7% to $2,229.50 and tin shed 0.5% to $25,195.
SHFE aluminium eased 0.4% to 18,955 yuan a ton, nickel was down 0.5% at 138,400 yuan, zinc declined 0.3% to 21,740 yuan, while lead gained 1.6% to 16,720 yuan and tin edged down 0.2% to 213,260 yuan.
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DATA/EVENTS (GMT) 0430 Japan Tertiary Ind Act NSA Sept 1330 US Import Prices YY Oct 1303 US Initial Jobless Clm Weekly 1330 US Philly Fed Business Indx Nov 1415 US Industrial Production Oct ($1 = 7.2577 Chinese yuan renminbi) (Reporting by Neha Arora in New Delhi; Editing by Varun H K)
