Three-month copper on the London Metal Exchange (LME) CMCU3 rose 0.4% to $9,089 a tonne, while the most-traded September copper contract on the Shanghai Futures Exchange (SHFE) SCFcv1 fell 1.7% to 73,700 yuan ($10,211.57) a tonne.
Investors are awaiting the monthly payrolls report from the US later in the day for further clues on the economy and the path of interest rate cuts.
The prospect of a US Federal Reserve interest rate cut in September supported prices earlier this week, but gains were pared after a series of data showed weak manufacturing activity in China and the United States.
Copper prices, often seen as an economic indicator, were little changed on the week after three straight weeks of declines, with weak demand, high inventories and China's lack of specific stimulus measures for its struggling housing sector weighing on the market.
There have been recent signs of better consumption in China, which could reduce exports from the country that had previously pushed global inventories higher.
This week, Yangshan premiums rose to a more than three-month high, signaling import demand in China.
Meanwhile, copper trading volume at SHFE fell 2% on Friday but was not far from a peak in about four years.
Market participants are expecting demand to pick up around September, a traditionally strong consumption season.
LME aluminium CMAL3 fell 0.1% to $2,293.50 a tonne, zinc CMZN3 rose 0.2% to $2,713, tin CMSN3 rose 1.6% to $30,380 and nickel CMNI3 rose 0.3% to $16,335.
LME nickel posted its first weekly gain in three weeks, helped by tight nickel ore supplies in Indonesia and better August stainless steel output in China.
SHFE aluminum SAFcv1 fell 0.3% to 19,220 yuan/t, zinc SZNcv1 rose 0.3% to 22,920 yuan, tin SSNcv1 fell 0.3% to 249,970 yuan, nickel SNIcv1 fell 1.5% to 130,990 yuan.
Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-5-8-tang-nhung-trien-vong-nhu-cau-am-dam.html
Comment (0)