Copper, other base metals mixed on session

Copper prices were mixed globally on Tuesday.

In New York, copper added 4 cents to $2.07 per pound after the US Commerce Department said that housing starts were up in October, easing worries that construction industry demand will fall.

On the other hand, three-month copper on the London Metal Exchange dropped $5 to $6,790 per tonne after dropping as low as $6,550 per tonne, its lowest in eight months, earlier in the session.

The decline in LME prices was aided by a gain of 350 tonnes in inventories, to 181,275 tonnes.

Lead was up $10 to $3,050 per tonne on the prospect that shipments from the Magellan mine in Australia, which has been closed to investigate possible lead poisoning of local wildlife, while zinc gained $15 to close at $2.370 per tonne.

Aluminium was $35 higher to $2,544 per tonne and nickel added $100 to $30,300 per tonne.

Tin prices dropped to $16,405 per tonne.