Copper edges up as lower US inflation boosts demand outlook
XLB•Other base metals move mixed
Among other LME metals, zinc CMZN3 added 0.35%, lead CMPB3 lost 0.4%, nickel CMNI3 rose 0.15% and tin CMSN3 ticked 0.24% higher.
On SHFE, zinc SZNcv1 gained 0.53%, lead SPBcv1 dropped 1.8%, nickel SNIcv1 slipped 0.29% and tin SSNcv1 rose 1.68%.
($1 = 6.7677 Chinese yuan renminbi)
China data, aluminium and other metals
The market was digesting economic data from big consumer China. The country's GDP growth cooled to a 3.5-year low, missing forecasts.
The Yangshan copper premium SMM-CUYP-CN, which tracks buying interest in China, nonetheless remained strong. At $90 a ton on Tuesday, it was at its highest price since May 2025.
Elsewhere, fighting continued between the U.S. and Iran, undermining peace negotiation hopes and weighing on the macroeconomic outlook.
Aluminium edged up on the LME CMAL3 adding 0.33%, while it was unchanged on the SHFE SAFcv1.
Disruption to supply from the Middle East, which accounts for around 9% of global aluminium smelting capacity, and waning inventories have supported prices.
Consumers are also seeking alternative supply sources and buying larger shipments from China, which exported a record high volume of unwrought aluminium and its products in June.
Copper edges up on cooler U.S. inflation
SINGAPORE, July 15 (Reuters) - Copper edged up on Wednesday, as lower-than-expected U.S. inflation supported demand outlook and helped raise sentiment a little even as the crisis in the Middle East continued to weigh.
