Copper set for weekly gain as China demand offsets US policy pressure
XLB•Other metals mostly mixed as oil prices soften
Copper also benefited from softer oil prices. Easing concerns over Saudi supply disruptions outweighed fresh fighting between Saudi Arabia and Iran-backed Houthis in the Middle East. Brent crude LCOc1 fell nearly 1% but remained above $100 a barrel.
LME aluminium CMAL3 fell 0.2% and nickel CMNI3 slipped 0.3%, while zinc CMZN3 rose 0.5%, lead CMPB3 gained 0.2% and tin CMSN3 climbed 0.9%.
SHFE aluminium SAFcv1 rose 0.7%, zinc SZNcv1 advanced 1.6%, lead SPBcv1 gained 2.0%, nickel SNIcv1 added 1.0% and tin SSNcv1 climbed 2.0%.
($1 = 6.6978 Chinese yuan)
Copper on track for weekly gain as China demand supports prices
Sept. 18 (Reuters) - Copper was set to end the week higher on Friday, as stronger physical demand in China helped withstand pressure from US tariff uncertainty and higher interest rates.
