BEIJING, July 24 (Reuters) - Copper prices slid again on Wednesday to trade near a three-and-a-half month low hit in the previous session, as concerns about demand in top consumer China weighed on the market.
Three-month copper on the London Metal Exchange was down 0.4% at $9,130.50 per metric ton by 0128 GMT, while the most-traded September copper contract on the Shanghai Futures Exchange lost 0.8% to 74,720 yuan ($10,271.07) a ton.
Physical demand in China has been dampened by recent price surges and a protracted property crisis. Further weighing on sentiment was a lack of stimulus from last week's political meeting.
However, miner Freeport-McMoran remains bullish on copper demand, helped by massive investment in the power grid, renewable generation technology, infrastructure and transportation.
LME lead slipped 0.3% to $2,053 a ton, zinc shed 0.3% at $2,680.50, tin ticked up 0.4% to $29,520, nickel climbed 0.3% to $16,075, while aluminium was unmoved at $2,294.50.
Citi delivered large amounts of lead to LME-approved warehouses in Singapore on Monday for profitable financial deals, three sources said, taking total LME stocks of the battery metal to their highest since early May.
SHFE aluminium dropped 0.2% to 19,315 yuan a ton, nickel rose 0.2% to 128,590 yuan, lead lost 1.1% to 18,895 yuan, tin moved down 1.4% to 247,190 yuan and zinc declined 1.4% to 22,915 yuan.
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