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METALS-Copper poised for weekly gain on softer dollar, China demand hopes
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METALS-Copper poised for weekly gain on softer dollar, China demand hopes
Aug 8, 2025 1:14 AM

(Updates for Asia market close)

By Brijesh Patel

Aug 8 (Reuters) - Copper prices rose on Friday and were

on track for a weekly gain, supported by a weaker U.S. dollar

and expectations of better demand from top consumer China.

Three-month copper on the London Metal Exchange was

up 0.3% at $9,714 per metric ton, as of 0750 GMT.

The most traded copper contract on the Shanghai Futures

Exchange rose 0.1% to 78,490 yuan ($10,929.02) a ton.

Data released on Thursday showed that China's exports beat

forecasts in July, as manufacturers made the most of a fragile

tariff truce between Beijing and Washington to ship goods.

China's copper imports rose 3.4% from a month earlier, as

per data released on Thursday, while copper concentrate imports

climbed 9% as the smelting sector snapped up supplies in a

record-breaking production run.

Meanwhile, the dollar index was down 0.4% against its

rivals, making greenback-denominated assets more affordable to

holders of other currencies.

On the supply side, investors were closely watching

developments surrounding the El Teniente copper mine in top

producer Chile after a fatal accident last week hit production.

Mine owner Codelco has sought permission from Chile's mining

regulator to reopen a part of its flagship mine, two sources

with knowledge of the matter said.

"In the short term, we could see spot prices pick up as mine

supply disruptions bite. This will also put downward pressure on

treatment charges. China's demand for refined copper imports

will likely grow," ANZ analysts said in a note on Friday.

Among other metals in London, aluminium rose 0.3% to

$2,617.50 a ton, nickel eased 0.1% to $15,100, lead

fell 0.4% to $2,001.50, tin gained 0.4% to

$33,805, and zinc advanced 0.4% to $2,825.

SHFE aluminium fell 0.4% to 20,685 yuan, nickel

eased 0.1% to 121,180 yuan, lead fell 0.1% to

16,845 yuan, tin was up 0.1% at 267,780 yuan, and zinc

was steady at 22,515 yuan.

For the top stories in metals and other news, click

or

($1 = 7.1818 Chinese yuan renminbi)

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