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London copper fell on Thursday after a big build-up in exchange stocks and as traders priced in two expected US interest rate increases in 2017 that could curb demand for dollar-denominated metals.


Concerns that heat is ebbing from China's economy have added to downside pressure on metals, exacerbated by China's weaker Caixin PMI numbers, Kingdom Futures said in a report.


Three-month copper on the London Metal Exchange (LME) edged down 0.46 percent to $5,574 a ton by 6:30 pm Beijing time, having earlier hit $5,567 a ton Cheap Men's Nike SB Dunk Low Takashi Black Gold , its weakest since April 20. Prices extended losses from the previous session when they recorded the biggest one-day drop in 18 months.


LME copper stocks surged by 31,250 tons, the most recent data showed, dousing concerns of falling supply. Shanghai Futures Exchange copper fell 2.6 percent to 45,470 yuan ($6,591) a ton.


Shanghai zinc and nickel fell more than 2 percent Cheap Men's Nike SB Blazer Low GT QS Sports Bruised Peach Circuit Orange Natural , tracking weakness in China's steel industry. Chinese iron ore futures tumbled more than 7 percent on Thursday, their biggest single-day drop in more than five months, on concerns that demand for the raw material was at risk from slower steel consumption.


Copper output in Democratic Republic of Congo, Africa's top producer, hit 274,316 tons in the first quarter of 2017 Cheap Men's Nike SB Blazer Low Thunder Blue Brown , a more than 20 percent increase over the same period in 2016, the country's central bank said on Wednesday.


Mining-trading group Glencore Plc has hired the Bank of Nova Scotia to sell a portfolio of royalty assets, including one for the Antamina copper-zinc mine in Peru, four people familiar with the process have told Reuters.


Southern Copper Corp on Wednesday reported net income of $314.4 million for the first quarter, up 70 percent from $185.1 million a year earlier.


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