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METALS-Copper edges higher on Anglo-Teck merger deal, supply concerns
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METALS-Copper edges higher on Anglo-Teck merger deal, supply concerns
Sep 10, 2025 12:56 AM

(Updates prices to the Asia market close)

By Lucas Liew

Sept 10 (Reuters) - Copper inched higher on Wednesday,

buoyed by a landmark planned merger between Anglo American and

Teck Resources ( TECK ), and ongoing supply concerns following global

mine disruptions.

Three-month copper on the London Metal Exchange

edged up 0.28% to $9,942 per metric ton, as of 0700 GMT, while

the most-traded copper contract on the Shanghai Futures Exchange

increased 0.1% to 79,790 yuan ($11,205.67) a ton.

On Tuesday, London-listed miner Anglo American and

Canada's Teck Resources ( TECK ) announced plans to merge,

creating the world's fifth-largest copper company and marking

the sector's second-largest M&A transaction to date, a big bet

on copper by Anglo.

Analysts from ANZ noted that recent disruptions at major

mines may further tighten the copper market, which is already

facing a shortage of feedstock.

Freeport-McMoRan ( FCX ) announced on Tuesday a temporary

halt on mining in Indonesia's major Grasberg mine after a large

flow of wet materials blocked access to parts of the underground

mine, restricting evacuation routes for seven workers.

Meanwhile, China's new bank loan issuance in August is

expected to have increased, a Reuters poll showed on Tuesday,

bouncing back from a shock contraction in the previous month.

Manufacturing activity had declined for a fifth straight

month in August, suggesting producers are awaiting further

clarity on a trade deal with the U.S. while domestic demand

remains sluggish.

Elsewhere, China Zinc Smelters Purchasing Team (CZSPT) set

processing fees for cargoes imported by the end of the fourth

quarter at $120-140 a dry metric ton, versus $80-100 for the

third quarter, state-backed research house Antaike said late on

Tuesday.

LME zinc gained 0.54%, while SHFE zinc

increased 0.07%.

Nickel edged up 0.33%, tin rose 0.77%, and

aluminium gained 0.15%, while lead lost 0.08%.

SHFE aluminium rose 0.19%, and tin edged

up 0.24%, while nickel dipped 0.07%, and lead

decreased 0.71%.

For the top stories in metals and other news, click

or

($1 = 7.1205 Chinese yuan)

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