METALS-Copper set to end week up on supply concerns, Antofagasta's higher earnings

By Lucas Liew

Aug 15 (Reuters) - Copper prices are set to end the week higher on supply concerns in Zambia and robust half-year earnings from Chilean producer Antofagasta.

Three-month copper on the London Metal Exchange CMCU3 was flat at $9,766 per metric ton as of 0250 GMT on Friday, but is set to end the week up 0.07%.

The copper contract on the Shanghai Futures Exchange SCFcv1 dipped 0.25% to 78,920 yuan ($10,989.50) a ton, but poised to end the week up 0.61%.

Data on Thursday showed that copper output in Zambia, Africa's second largest producer, dipped in the second quarter, putting its target of boosting production to 1 million metric tons in 2025 at risk.

The government has been trying to lift copper output to get the economy back on track, but lower production means Zambia would have to raise output by 27% in the second half to reach its goal.

Meanwhile, top Chilean miner Antofagasta ANTO.L posted a nearly 60% jump in half year earnings on higher production and prices for its energy transition material copper products.

Copper, a key raw material for power and construction as well as for green energy transition technologies, is expected to benefit from the growth in the EV sector and emerging uses such as AI-powered data centres.

Among other London metals, aluminium CMAL3 edged up 0.1% to $2,622 a ton, while nickel CMNI3 eased 0.07% to $15,020, lead CMPB3 dipped 0.25% to $1,984.5, tin CMSN3 lost 0.27% to $33,375, and zinc CMZN3 fell 0.49% to $2,834.5.

SHFE aluminium SAFcv1 edged up 0.02% to 20,710 yuan, while nickel SNIcv1 eased 1.47% to 120,280 yuan, lead SPBcv1 dipped 0.18% to 16,785 yuan, tin SSNcv1 lost 1.11% to 265,610 yuan, and zinc SZNcv1 fell 0.24% to 22,485 yuan.

For the top stories in metals and other news, click

TOP/MTL or MET/L

DATA/EVENTS (GMT)

1000 EU Reserve Assets Total July

1230 US Import Prices YY, Retail Sales MM July

1315 US Industrial Production MM July

1400 US U Mich Sentiment Prelim August

($1 = 7.1814 Chinese yuan)

 For related news and prices, click on the codes in brackets: LME price overview      RING= COMEX copper futures  0#HG: All metals news         MTL   All commodities news      C 
 Foreign exchange rates FX=SPEED GUIDES LME/INDEX