METALS-Copper hits one-month peak on strong China factory data and weak dollar
By Eric Onstad
LONDON, Sept 1 (Reuters) - Copper prices crept to their highest in more than a month on Monday, supported by upbeat manufacturing data from top metals consumer, China, and a weaker dollar.
Three-month copper CMCU3 on the London Metal Exchange was down 0.2% at $9,886 a metric ton by 1600 GMT after touching its highest since July 24 at $9,947.
LME copper has gained 12% this year, having rebounded from $8,105 in early April, the weakest in more than 16 months.
Investors took heart from a private sector survey on Monday that showed China's factory activity in August expanded at the quickest pace in five months on the back of rising new orders.
"Macro and cyclical conditions in China are generally on the up. That should be good for final demand," said WisdomTree commodity strategist Nitesh Shah.
The positivity is not restricted to commodities, Shah added. "If you look at Chinese equities, they've been roaring," he said.
Shanghai shares flirted with 10-year highs on Monday.
The most-traded copper contract on the Shanghai Futures Exchange SCFcv1 gained 0.7% to 79,780 yuan ($11,153.52) a ton, rising for a second straight session.
Gains on metals markets were restrained by worries about U.S. tariffs, which helped to dampen factory activity in other parts of Asia.
A softer dollar makes commodities priced in the U.S. currency cheaper for buyers using other currencies.
Among other metals, LME aluminium CMAL3 was little changed at $2,616 a ton, tin CMSN3 dipped 0.1% to $34,995, lead CMPB3 gained 0.7% to $2,004.50, zinc CMZN3 rose 0.4% to $2,831 and nickel CMNI3 added 0.1% to $15,435 after touching its strongest since July 25 at $15,520.
For the top stories in metals, click TOP/MTL
($1 = 7.1529 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
Related Articles
Gold Rally? The New Upward Cycle for Gold and Silver May Just Be Beginning
TradingKey - COMEX gold price has surged past its historic high, while COMEX silver recently broke its highest levels for the year, approaching the historical peak of $49.84 with just roughly 20% upside remaining. Against the backdrop of a weakening U.S. dollar and credit system turmoil, it is only
Investing in Cybersecurity
High-margin, subscription-driven business models with strong retention and defensive demand make cybersecurity stocks attractive, though valuations remain volatile and sensitive to competition and breaches.
Hims & Hers Health Inc (HIMS): The Opportunity is still Strong and Potent
TradingKey - Despite the whole controversy with NVO, we believe HIMS is able to achieve 6 million subscribers and $6 billion of revenue by 2030, due to the large opportunity of growth for the telehealth industry, early investments in logistics capabilities and ability to upsell their patients.
Eurozone Q2 GDP Commentary: Will the Euro's Upward Momentum Persist?
TradingKey - On 14 August 2025, Eurostat published Q2 GDP figures, revealing a drop in the Eurozone's quarter-on-quarter growth from 0.6% in the first quarter to 0.1%. Consequently, annual growth eased from 1.5% to 1.4%. The slowdown primarily stems from the diminishing boost from European...
Bitcoin Price Forecast: Trends and Investment Outlook from 2025 to 2030
From $0.01 in 2009 to $120,000+ in 2025, Bitcoin has evolved from obscurity to a globally recognized financial asset. While institutions and governments increasingly embrace it, investors must remain vigilant against volatility, security risks, and scams.
