Copper gains on US home sales data

Most base metals saw gains Tuesday after the US dollar strengthened and equities markets were higher after several consecutive sessions of declines.

December copper was up 5 cents to $1.86 per pound while three-month copper added $110 to $4,130 per tonne, helped by new data showing that new home sales in the US were up in September, but prices remain about 50 percent below their historic low, reached in July.

Aluminium added $67 to $2,015 per tonne even though London Metal Exchange stockpiles were up 200 tonnes on the session.

Copper inventories on the LME were also up during the session, adding 2,175 tonnes to 215,500 tonnes.

Lead was up $175 to $1,470 per tonne while nickel added $870 to $11,970 per tonne and tin gained $1,150 to $14,750 per tonne but zinc dropped $35 to $1,150 per tonne.

Among precious metals, December gold had dropped $2.40 to $740.50 per troy ounce by just before the close of floor trade in New York as the stronger dollar reduced demand, while December silver was also lower, by 39 cents to $8.81 per troy ounce, but January platinum added $11.60 to $808.80 per troy ounce.