(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)