Sept 29 (Reuters) - Copper prices fell on Wednesday, as
investors reduced risk exposure amid uncertainty in both demand
and supply caused by a power curtailment, while sluggish trade
ahead of a major holiday in China also weighed on sentiment.
The most-traded November copper contract on the Shanghai
Futures Exchange fell 1.1% to 68,500 yuan ($10,593.53)
a tonne at 0409 GMT, while three-month copper on the London
Metal Exchange declined 0.3% to $9,241 a tonne.
Power restrictions in China have hurt supplies of some
metals in recent months, but electricity curbs recently spread
to more downstream sectors and dampened manufacturing, hurting
the demand for metals.
A stronger dollar also made greenback-priced metals
more expensive and less appealing to holders of other
currencies.
China is going on a week-long holiday starting Oct. 1, with
investors squaring positions ahead of the break to reduce
exposure in a volatile market environment.
"Current power curtailment is still the biggest uncertainty.
There are only two trading days before the holiday. It is
recommended to control the risk," said brokerage Jinrui Futures
in a note.
FUNDAMENTALS
* LME aluminium fell 1.2% to $2,909.50 a tonne,
nickel declined 0.4% to $18,490 a tonne and tin
was down 0.8% to $35,510 a tonne.
* ShFE aluminium rose 0.9% to 22,825 yuan tonne,
nickel fell 0.3% to 141,840 yuan a tonne, lead
declined 0.8% to 14,385 yuan a tonne while tin rose
1.3% to 273,220 yuan a tonne.
* China's top copper smelters set floor treatment and
refining charges for the fourth quarter at $70 per tonne and 7
cents per lb, up 27.3% from the third quarter and up from $58
per tonne and 5.8 cents per lb a year earlier.
* The global zinc market deficit narrowed to 6,600 tonnes in
July and January-July surplus was at 11,000 tonnes, down from a
420,000-tonne surplus in the same period last year,
International Lead and Zinc Study Group data showed.
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($1 = 6.4662 yuan)
(Reporting by Mai Nguyen in Hanoi; Editing by Ramakrishnan M.
and Rashmi Aich)