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METALS-London copper extends losses on weak Chinese data
May 18, 2026 8:48 PM

May 19 (Reuters) - London copper extended losses on

Tuesday, though the U.S. dollar and oil eased, as weak Chinese

data continued to weigh on sentiment.

The benchmark three-month copper on the London Metal

Exchange dropped 0.59% to $13,508.50 a metric ton as of 0305

GMT.

And the most-active copper contract on the Shanghai

Futures Exchange dipped 0.12% to 103,960 yuan ($15,286.21) a

ton.

Copper continued to feel pressure from weak Chinese data on

Monday.

"The pullback comes after a strong run, with prices slipping

from the recent highs hit just last week amid intensifying macro

headwinds. Weaker Chinese data, including softer activity in

investment, retail, and industrial output, added to concerns

about demand, particularly in the manufacturing sector,"

analysts at ING Economics said in a note.

Meanwhile, the U.S. dollar rebounded after a brief

pullback on Monday, keeping its pressure on industrial metals.

Oil eased, with the Brent crude dropping below $110

a barrel. U.S. President Donald Trump said on Monday that he had

paused a planned attack against Iran after receiving a peace

proposal from Tehran, helping to keep hopes for a peace deal

alive.

Elsewhere, analysts at Citi said on Monday that aluminium is set

for its biggest bull run in 50 years, as the Iran war triggered

a major supply shock, taking out 3 million tons of supply from

the market to push it into a structural deficit when spare

capacity is near zero, and inventories were at a 55-year low.

Citi now expects the light metal to surge to $4,000 a ton in

the next three months if disruptions to demand remain limited.

But the London benchmark aluminium ticked 0.10%

lower to $3,565.50 a ton.

The Shanghai most-traded aluminium contract,

meanwhile, gained 0.56% to 24,340 yuan a ton, the only metal

posted a gain on SHFE.

Among other metals on the LME, zinc dipped 0.38%,

lead shed 0.33%, nickel lost 0.55% and tin

tumbled 1.30%.

Elsewhere on SHFE, zinc lost 0.39%, lead

nudged 0.06% lower, nickel dropped 0.31% and tin

lost 0.72%.

Tuesday, May 19

DATA/EVENTS (GMT)

0430 Japan Tertiary Ind Act NSA Mar

0600 UK Claimant Count Unem Chng Apr

0600 UK ILO Unemployment Rate Mar

0600 UK HMRC Payrolls Change Apr

0900 EU Total Trade Balance SA Mar

($1 = 6.8009 Chinese yuan renminbi)

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