Copper slips on weak China demand

LONDON, Dec 18 (Reuters): Copper prices came under pressure on Monday due to worry about weak demand in top consumer China, but mine closures and disruptions raising the prospect of tighter supplies helped support confidence.
Benchmark copper on the London Metal Exchange (LME) was down 0.5 per cent at $8,509 a metric ton by 1050 GMT. Prices of the metal used in the power and construction industries touched four-month highs at $8,640 a ton this month.
China's troubled property market has weighed on industrial metals demand for most of this year, despite government measures to support the sector.
Julius Baer analyst Carsten Menke expects energy transition demand for copper to offset the slowdown in China.
"The past few weeks have shown copper supply is quite vulnerable, Cobre Panama in particular," he said.