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METALS-Copper hits over one-week high on softer dollar, China demand hopes
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METALS-Copper hits over one-week high on softer dollar, China demand hopes
Aug 10, 2025 9:50 PM

(Updates prices on Asian market close in the morning; adds LME

prices in paragraphs 3, 12)

BEIJING, Aug 11 (Reuters) - Copper futures climbed on

Monday to hit their highest in more than a week, aided by a

softer dollar and China demand hopes, even though supply

concerns eased after Codelco got the nod to restart operations

at the El Teniente mine in Chile.

The most-traded copper contract on the Shanghai Futures

Exchange closed morning trade 0.75% higher at 79,010

yuan ($11,005.25) a metric ton, the highest since July 30.

Benchmark three-month copper on the London Metal

Exchange touched an intraday high of $9,789 a ton, the highest

since July 31.

A softer dollar amid growing expectations for a U.S.

interest rate cut in September supported prices of copper, which

is used in power and construction.

A weaker dollar makes commodities priced in the greenback

less expensive for buyers using other currencies.

Also, underpinning copper prices were expectations of

growing demand from top consumer China in the peak demand season

in September.

However, gains were curbed by easing supply concerns as

miner Codelco received authorisation from Chile's labour

inspector office to begin resuming certain operations at its

flagship El Teniente copper mine.

Operations at the mine were suspended for more than a week

following a deadly collapse that killed six workers.

Weaker-than-expected China factory-gate data also capped the

gains in copper prices.

China's producer prices fell more than expected in July,

underscoring the impact of sluggish domestic demand and

persistent trade uncertainty on consumer and business sentiment.

SHFE zinc rose 0.51%, lead advanced 0.57%,

nickel ticked 0.7% higher, while tin and

aluminium were little changed.

LME zinc rose 0.16%, tin and lead

added 0.42%, nickel climbed 0.76%, while aluminium

was little changed.

For the top stories in metals and other news, click

or [MET/L}

For related news and prices, click on the codes in brackets:

LME price overview COMEX copper futures

All metals news All commodities news

Foreign exchange rates SPEED GUIDES

($1 = 7.1793 Chinese yuan)

(Reporting by Amy Lv and Lewis Jackson; Editing by Subhranshu

Sahu)

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