Copper holds above $14,000, set for strongest week since May on supply concerns

Trump's mining roundtable later on Friday is set to see a handful of deals and memorandums of understanding announced, according to a person familiar with the planning of the event.

Aluminium CMAL3 gained 0.6% to $3,277.50 a ton, touching its highest since June 23, while zinc CMZN3 eased 1.5% to $3,705.50 after notching an almost four-year peak on Thursday but was still set to end the week higher.

Backwardation in the three-month spreads remains steep for zinc CMZN0-3 at more than $65 a ton but has collapsed for aluminium CMAL0-3 to $3.75 from as much as $45 on Tuesday.

Lead CMPB3 added 0.1% to $1,886.50, nickel CMNI3 advanced 1.5% to $17,015 and tin CMSN3 shed 1.2% to $55,385.

LONDON, Aug 7 (Reuters) - Copper held above the $14,000 mark on Friday as supply concerns and tight inventories left the metal on course for its strongest week in almost three months, while traders awaited news from a mining roundtable convened by U.S. President Donald Trump.

Benchmark three-month copper CMCU3 on the London Metal Exchange edged down 0.3% to $14,061 a metric ton as of 1600 GMT. It was still set to finish the week up 2% for its sixth consecutive weekly gain and the biggest since the week to May 8.

Copper touched a six-month high of $14,369.50 on Thursday after Reuters reported that the Democratic Republic of Congo had banned copper concentrate exports.

"The news reinforced an already bullish market backdrop characterised by low inventories, tight concentrate availability and ongoing supply disruptions," ING said in a note.

Available LME copper stocks MCUSTX-TOTAL declined to 92,900 tons, the lowest since January, leaving the cash to three-month spread CMCU0-3 in steep backwardation of $108.50 a ton, indicating near-term tightness.