Shanghai Futures Exchange copper slipped by 0.6 percent to 46,580 yuan ($6,757) a tonne on Wednesday as the dollar ticked higher on expectations the Federal Reserve will signal a June rate rise later in the session. Nickel prices also fell after Philippine lawmakers rejected the appointment of Regina Lopez as Environment Secretary, potentially paving the way to ease a crackdown on the country's mines. Philippines is a major exporter of nickel laterite ore.

Lopez had angered the mining sector after ordering in February the closure of more than half the country's mines and the cancellation of dozens of contracts for undeveloped mines to protect water resources. Last week, she banned open-pit mining. Japan was on its Golden Week holiday, draining liquidity from the market while it was also a public holiday in South Korea. Moves to control capital outflows and concerns over a potential further depreciation of the yuan are likely to impede the internationalisation of Chinese currency, Fitch credit rating agency said.

Copyright Reuters, 2017