MARKET ROUNDUP

Industrial metals closed at a new 9-1/2 month low on Tuesday on poor global demand prospects after the International Monetary Fund (IMF) cut its outlook for global growth.

IN FOCUS

- World refined copper consumption exceeded production by 130,000 tonnes during the first half of this year compared with a deficit of 286,000 tonnes in the first six months of 2010, an industry report showed on Tuesday.

- Japan's output of rolled copper products in August logged its biggest year-on-year fall this year, dropping 5.3 percent as demand for use in chips, connectors and automobiles remained weak, an industry body said on Wednesday.

- Japanese copper wire and cable shipments climbed 1.3 percent in August from a year earlier, helped by rising demand from the auto sector, an industry body said, though they were still the third lowest on record for the month.

- China's aluminium smelters may keep imports of raw material alumina under yearly contracts low next year as prices rise and domestic production increases, industry sources said on Tuesday.

- Daily average primary aluminium output in August rose to 70,500 tonnes compared with a revised 70,200 in July and 66,500 in August 2010, provisional figures from the International Aluminium Institute (IAI) show.

FUNDAMENTAL OUTLOOK

Industrial metals are trading mixed on International bourses today. We expect prices to remain under pressure as after the International Monetary Fund cut its global growth forecast, raising concern demand for the metal may slow.