Shanghai copper rebounds as US-China trade tensions ease

SHANGHAI, Oct 14 (Reuters) - Shanghai copper rebounded on Tuesday as fears of an escalation in U.S.-China trade tensions eased and investors refocused on mine disruptions and supply shortages.

The most-active copper contract on the Shanghai Futures Exchange SCFcv1 was up 1.38% at 86,070 yuan ($12,060.87) per metric ton, as of 0330 GMT.

Hopes of a de-escalation in tensions between the world's two economic heavyweights grew after U.S. Treasury Secretary Scott Bessent said President Donald Trump remained on track to meet Chinese leader Xi Jinping in South Korea in late October.

Mine disruptions, including the suspension of operations at Grasberg in Indonesia late last month, keep copper prices supported amid expectations of a supply deficit in 2026.

Demand also improved following a price drop on Monday, analysts at Chinese broker Minmetal Futures said.

The benchmark three-month copper contract CMCU3 on the London Metal Exchange (LME) was down 0.24% at $10,794 a ton, as of 0354 GMT, after a more than 2% gain on Monday.

Among other SHFE base metals, aluminium SAFcv1 gained 0.24%, zinc SZNcv1 nudged up 0.18%, nickel SNIcv1 tumbled 0.43%, tin dropped 0.58%, while lead SPBcv1 was little changed.

Among other LME metals, aluminium CMAL3 was up 0.43%, lead CMPB3 gained 0.2%, while zinc CMZN3, nickel CMNI3 and tin CMSN3 were little changed.

($1 = 7.1363 Chinese yuan)