LONDON, November 11 (Reuters)-Copper prices fell on Wednesday as optimism about vaccines to help end the new crown crisis faded, concerns about economic growth and demand resurfaced, and the higher dollar strengthened negative sentiment.

At 1705 GMT, the three-month copper on the London Metal Exchange (LME) fell 0.5% to $6,894 per ton.

On Monday, Pfizer said that according to preliminary data from a large study, after the effectiveness of its experimental new crown vaccine exceeded 90%, the price of copper rose to $7,050, the highest since June 2018.

ED&F Man Capital Markets analyst Edward Meir said that caution is necessary.

He said: "We may see the rise begin to stagnate, and may even reverse slightly, especially considering that the timetable for mass vaccination has not yet been determined.

China's record imports this year have boosted copper prices in recent months.

Three-month aluminum rose 0.4% to US$1,915 per ton; zinc futures fell 0.9% to US$2,621 per ton; lead rose 0.9% to US$1,867 per ton; tin futures fell 0.4% to US$18,210 per ton ; Nickel rose 0.4% to $15,965 per ton.

 

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