Copper plumbs two-week low as dollar climbs

Copper futures fell over one percent in American trade to September 21 lows as the dollar index eked out gains away from July 9 lows, following earlier data from China, the world's largest metals consumer, and ahead of US manufacturing data. 

As of 01:33 GMT, copper futures due in December fell 1.48% to $276.35 a pound, marking two-week lows, while the dollar index inched up 0.04% to 95.17 away from three-month lows. 

Earlier Chinese data showed the manufacturing PMI slowed down to 50.8 from 51.3, missing estimates of 51.2, while the services PMI widened to 54.9 from 54.2, beating estimates of 54.1. 

Markets now await the final Markit manufacturing PMI reading, expected at 55.6, up from 54.7 in August, while ISM manufacturing PMI is estimated at 60.1, slightly below 61.3 in August. 

ISM manufacturing prices are expected to slip to 72 from 72.1, while construction spending is expected with a 0.5% increase, accelerating from 0.1% in July.