Metals-Copper under pressure as investors weigh China, US economic data
XLB•Aluminium and other base metals move mixed
Meanwhile, Iran's Islamic Revolutionary Guard Corps has threatened to close "all other export corridors that benefit the U.S. and its allies," Iranian media reported, after Iran shut the Strait of Hormuz and the U.S. reimposed a naval blockade of Iranian ports. Oil extended gains on Wednesday. O/R
Aluminium pared back earlier gains on the LME CMAL3 to add only 0.05%, while it dipped 0.13% 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 so far.
Consumers have sought alternative supply sources and are buying larger shipments from China, which exported a record high volume of unwrought aluminium and its products in June.
Among other LME metals, zinc CMZN3 was little changed, down only 0.03%, lead CMPB3 lost 0.48%, nickel CMNI3 lost 0.48% and tin CMSN3 lost 1.43%.
Elsewhere on SHFE, zinc SZNcv1 added 0.2%, lead SPBcv1 dropped 1.86%, nickel SNIcv1 lost 1.01% and tin SSNcv1 added 0.16%.
Copper eases as investors weigh China and US data
Copper was under pressure on Wednesday, as investors weighed gloomy Chinese macroeconomic conditions with lower U.S. consumer inflation data.
Benchmark three-month copper CMCU3 on the London Metal Exchange lost 0.49% at $13,576.5 a metric ton by 0700 GMT.
The most-traded copper contract on the Shanghai Futures Exchange SCFcv1 pared back earlier gains, ticking 0.12% higher, to 104,220 yuan ($15,392.11) a ton.
Top metals consumer and world's second-largest economy China's GDP growth cooled to a 3.5-year low, missing forecasts on weak domestic demand, official data showed.
The Yangshan copper premium, which tracks Chinese buying interest, remained strong. At $90 a ton on Tuesday, it was at its highest price since May 2025.
