Copper, Aluminum Gain as Zinc, Lead Drop Ahead of China Data

Zinc and lead extended declines after industrial metals tumbled by the most in a year, while copper and aluminum climbed ahead of China economic reports.

Zinc dropped as much as 0.6 percent to $1,863.75 a metric ton on the London Metal Exchange before trading at $1,868.50 at 9:23 a.m. Shanghai time. Lead fell 0.3 percent to $2,043 a ton. The LME Index (LMEX) of six primary base metals tumbled 2.6 percent on April 12, the most since April 10, 2012.

China’s gross domestic product probably expanded 8 percent in the first quarter, accelerating from 7.9 percent in the fourth quarter, a Bloomberg News survey showed. The National Bureau of Statistics is scheduled to release March and first- quarter economic data at 10 a.m. local time.

“Unless data from China are much better or worse than expected, metals will remain in a downward trajectory,” Xiong Dabiao, an analyst at Minmetals Futures Co., said by phone from Shanghai.

Copper for delivery in August on the Shanghai Futures Exchange fell 2 percent to 54,050 yuan ($8,729) a ton, tracking a drop of 2.7 percent in its London counterpart on April 12. Copper on the LME rose 0.3 percent this morning while aluminum in London advanced 0.4 percent.

To contact Bloomberg News staff for this story: Helen Sun in Shanghai at hsun30@bloomberg.net

To contact the editor responsible for this story: Brett Miller at bmiller30@bloomberg.net

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