London 06/10/2016 - Base metals ended LME trading on Thursday, October 6 mixed and in low volumes again while China is away for Golden Week holiday until next Monday.
"It's been very quiet this week - no overnight volumes on tin and copper in the hundreds. It just shows how much business is going to China," an LME trader said.
"It's worrying how slow it has been with China absent from the market. We are waiting for next week and hopefully business will pick up when Chinese markets reopen," a second LME trader added.
The dollar index continues to hold above 96 after largely stronger-than-expected economic data from the US. It was recently at 96.57, up 0.44 percent.
Still, the ADP non-farm employment change at 154,000 jobs was below the forecast of 166,000. The figure is seen as a precursor to Friday's official jobs report, which is seen at 172,000, up from August's reading of 151,000.
In today's US data, Challenger job cuts and unemployment claims were both better than expected at -2.7 percent and 249,000 respectively.
Elsewhere, German factory orders outperformed at 1.0 percent and EU retail PMI was as expected at 49.6.
The European Central Bank (ECB) today reiterated its commitment to its quantitative easing programme following rumours this week that the bank was preparing to taper its monetary-easing measures.
The three-month copper price was last at $4,758 per tonne, down $21.50 on the previous close and around its lowest in two weeks. Business was slow - only around 10,000 lots changed hands on Select by the kerb close.
Stocks fell a net 5,325 tonnes to 359,725 tonnes and cancelled warrants were down 5,825 tonnes at 76,300 tonnes.
Lead and zinc prices both retraced from the previous week's highs - both had hit their highest since May 2015. Market participants said that the potential for a correction had increased due to the extent of the price rise.
Three-month lead concluded at $2,054.50 per tonne, up $9.50. Stocks edged 50 tonnes higher to 190,825 tonnes.
Zinc for delivery in three months ended at $2,320 per tonne, down $23. Stocks rose 4,750 tonnes to 457,625 tonnes.
Three-month aluminium closed at $1,677 per tonne, up just $2; stocks and cancelled warrants both fell 7,575 tonnes to 2,134,300 tonnes and 851,050 tonnes respectively.
The three-month nickel closing price of $10,255 per tonne was $175 higher after inventories fell 276 tonnes to 360,282 tonnes and cancelled warrants jumped 2,406 tonnes to 113,124 tonnes.
The tin price ended the kerb at $20,095 per tonne, basis three months, an in creased of $195 - stocks were unchanged but cancelled warrants rose 25 tonnes to 1,765 tonnes.
Cobalt and molybdenum were last indicated at $28,000, 28,500 and $15,000/15,500 per tonne respectively. Cobalt stocks and cancelled warrants were both 10 tonnes lower at 609 tonnes and 79 tonnes respectively.
(Additional reporting by Kathleen Retourne, editing by Mark Shaw)