Oct 27 (Reuters) - Copper prices fell on Tuesday following caution over surging global cases of COVID-19 and the uncertainty around a new U.S stimulus package ahead of the presidential election.
The United States, Russia, France and many other countries set records for daily infections, while a much-awaited U.S. stimulus was yet to be agreed.
Investors also stayed on the sidelines ahead of the U.S. presidential election due on Nov. 3.
Three-month copper on the London Metal Exchange fell 0.1% to $6,777.50 a tonne by 0244 GMT, while the most-traded December copper contract on the Shanghai Futures Exchange declined 0.9% to 51,480 yuan ($7,680.60) a tonne.
* LME aluminium rose 0.1% to $1,830 a tonne, while zinc declined 0.3% to $2,531.50 a tonne. ShFE nickel rose 0.3% to 119,250 yuan a tonne and lead advanced 0.7% to 14,415 yuan a tonne.
* Shipments from MMG Ltd’s Las Bambas copper mine in Peru have returned to normal after nearly a week of disruption, the company said, even as it slashed its output guidance for the mine in 2020 by more than 10%.
* For the top stories in metals and other news, click or
* Shares fell across the globe as surging coronavirus cases in Europe and the United States clouded the world economic outlook, boosting the safe-haven dollar.
DATA/EVENTS AHEAD (GMT)
1230 US Durable Goods Sept
1400 US Consumer Confidence Oct
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 = 6.7026 yuan) (Reporting by Mai Nguyen; editing by Uttaresh.V)
Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.
Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.