{"id":551,"date":"2026-05-11T08:50:06","date_gmt":"2026-05-11T08:50:06","guid":{"rendered":"https:\/\/dailypakistannews.com\/?p=551"},"modified":"2026-05-11T08:50:06","modified_gmt":"2026-05-11T08:50:06","slug":"copper-rises-on-upbeat-china-data-supply-concerns-after-freeport-delay","status":"publish","type":"post","link":"https:\/\/dailypakistannews.com\/?p=551","title":{"rendered":"Copper rises on upbeat China data, supply concerns after Freeport delay"},"content":{"rendered":"

Copper prices edged higher on Monday, supported by stronger-than-expected inflation data from top consumer China and supply concerns after Freeport delayed a full recovery of its Grasberg mine in Indonesia.<\/strong><\/p>\n

The benchmark three-month copper on the London Metal Exchange was up 0.23% at $13,604 a metric ton, as of 0714 GMT, after reaching a three-month high of $13,643.<\/p>\n

The most-traded copper contract on the Shanghai Futures Exchange closed daytime trading 0.94% higher at 104,620 yuan ($15,396.39) a ton, after hitting a three-month high of 104,840 yuan.<\/p>\n

China\u2019s consumer prices rose 1.2% in April from a year earlier, beating expectations for a 0.9% increase, while factory-gate prices jumped 2.8%, also above estimates and hitting a 45-month high, according to National Bureau of Statistics data.<\/p>\n

The data supported sentiment towards industrial metals, although traders said the rise in factory-gate prices was driven largely by higher energy and raw material costs rather than a clear rebound in domestic demand.<\/p>\n

Copper holds steady, supported by US-Iran peace proposal<\/strong><\/a><\/p>\n

Elevated energy costs due to the Iran conflict remained a pressure point for copper, with Brent crude holding above $104 a barrel after U.S. President Donald Trump swiftly rejected Iran\u2019s response to a U.S. peace deal.<\/p>\n

Copper was also supported by supply concerns after Freeport delayed the full resumption of its flagship Grasberg mine to early 2028, from previous expectation of a return to full capacity by 2027.<\/p>\n

The mine is currently operating at about 40%-50% capacity as it still recovers from a fatal mudflow last September.<\/p>\n

The delay adds pressure to an already tight copper concentrate market, where mine disruptions have squeezed smelter treatment charges and kept supply risk high.<\/p>\n

Sentiment was also supported by Trump\u2019s scheduled visit to China this week.<\/p>\n

Among other base metals on the LME, aluminium gained 0.57%, zinc dropped 0.45%, lead added 0.05%, nickel climbed 0.86% and tin gained 0.97%.<\/p>\n

Elsewhere on SHFE, aluminium rose 0.43%, zinc declined 0.97%, lead dipped 0.33%, nickel added 0.39% and tin lost 0.69%.<\/p>\n","protected":false},"excerpt":{"rendered":"

Copper prices edged higher on Monday, supported by stronger-than-expected inflation data from top consumer China and supply concerns after Freeport delayed a full recovery of its Grasberg mine in Indonesia. The benchmark three-month copper on the London Metal Exchange was up 0.23% at $13,604 a metric ton, as of 0714 GMT, after reaching a three-month […]<\/p>\n","protected":false},"author":0,"featured_media":552,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-551","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan-news"],"_links":{"self":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/posts\/551","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=551"}],"version-history":[{"count":0,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/posts\/551\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/media\/552"}],"wp:attachment":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}