NEW YORK ( TheStreet) -- Base metals are expected to be range-bound with a negative bias Wednesday as the dollar gained from a six-week low against the euro and Asian markets traded lower. On Tuesday, U.S. ISM non-manufacturing composite data stood at 53.80, below analysts' expectations of 55. There are no significant data releases lined up for Wednesday.Copper Copper for delivery within three months lost 1.2% to $6,527.75 per metric ton in the early hours of trade Wednesday on the London Metal Exchange. The decline follows a 2.1% increase in trade on Tuesday. Copper inventories maintained by LME stood at 441,700 tonnes, down 0.6%, the lowest level since Dec. 1. More than 100 workers at Codelco's Ventanas copper smelter in Chile went on strike after failing to reach an agreement over pay, a union official told Bloomberg. However, the smelter is operating normally during the strike, a company official added. The metal is expected to trade sideways to negative in Wednesday's session. Aluminum Aluminum for delivery within three months declined 1% to $1,975 per metric ton in early trading Wednesday on the LME. The metal advanced 3% in Tuesday's trade. Stockpiles maintained by the LME shed 5,925 tonnes to close at 4.40 million tonnes. Aluminum Corp of China ( ACH) has delayed plans for a share sale owing to a 26% decline in the Shanghai Composite Index this year. Instead, the company will now seek bank loans. The metal is expected to trade in line with copper Wednesday. Nickel Nickel for delivery within three months gained 0.5% to $19,000 per metric ton in early trading Wednesday on the LME. The metal continued its positive run since Tuesday when it gained 1.2%. Inventories were down 0.3% to 122,172 tonnes. According to the Macquarie Commodities, China may experience a downward trend in commodity consumption in the future. The trend can already be witnessed in the steel sector. This might have a negative impact on nickel which is used for steel-making. Zinc Zinc for delivery within three months lost 1.3% to $1,826 per metric ton in the early hours of trade Wednesday on the LME. The metal gained 2.4% in Tuesday's trade, with inventories unchanged at 616,600 tonnes.
Lead Lead for delivery within three months was unchanged at $1,760 per metric ton Wednesday. The metal gained 0.8% Tuesday, while inventories maintained by LME shed 275 tonnes to close at 189,350 tonnes.