Copper gains for sixth session on Chinese buying
COPX•Other base metals mostly mixed
Among other metals, LME aluminium CMAL3 dipped 0.1% in official activity to $3,263.50 a ton and lead CMPB3 slipped 0.1% to $1,934.50 while zinc CMZN3 rose 0.2% to $3,936, nickel CMNI3 gained 1.3% to $16,530 and tin CMSN3 was little changed at $53,950.
($1 = 6.6997 Chinese yuan renminbi)
Copper extends rally on Chinese buying
Copper prices extended gains for a sixth session on Tuesday as top metals consumer China stocked up ahead of holidays.
Benchmark three-month copper CMCU3 on the London Metal Exchange rose 0.7% to $14,758 a metric ton in official open-outcry trading, having gained 1% in the previous session.
LME copper has climbed 18% so far this year, mostly due to large flows of metals to the US on speculation about tariffs on refined copper.
Copper hit a record peak of $14,875 on September 10, then tumbled after sources told Reuters that US officials were concerned that tariffs may raise costs for manufacturers.
