Copper slips from 12-week high as elevated prices curb Chinese demand

Among other metals, LME aluminium CMAL3 fell 0.14%, zinc CMZN3 eased 0.11%, lead CMPB3 lost 0.19% and tin CMSN3 declined 1.19%.

On SHFE, aluminium SAFcv1 rose 0.19%, zinc SZNcv1 gained 1.37%, lead SPBcv1 added 0.06% and tin SSNcv1 edged up 0.03%.

($1 = 6.7489 Chinese yuan renminbi)

Nickel sank after SMM, a Chinese market information hub, reported Weda Bay Nickel had received an additional second-half nickel ore production quota of about 25 million tons.

Eramet, one of the owners of WBN, said the mine suspended production in late May after exhausting its initial 2026 RKAB of 12 million tons, and it had sought a higher allocation from Indonesian authorities.

LME nickel CMNI3 fell 3.06% to $16,590 a ton, while SHFE nickel SNIcv1 closed the day 2.69% down at 127,460 yuan.