Copper poised for fourth weekly gain on positive US, China signs

Copper was on track for a fourth weekly advance, with positive economic data from the world’s two biggest economies buoying its demand outlook.

The metal edged up on Friday to trade near the highest in a month, while other London Metal Exchange commodities also gained. The economic bellwether metal has traded in a relatively narrow range this month, but has been supported by a weaker dollar.

US data this week showed its economy expanded faster than initially estimated on a pickup in business investment and a boost from trade. The figures also highlighted the resilience of consumer spending.

In China, industrial companies saw their profits decline in July at a slower pace than in the month before, in a sign that efforts to curb overcapacity may be starting to ease the strain of aggressive competition among producers. That could in turn aid consumption for industrial metals.

Copper is one of several key metals, along with aluminium and nickel, that have risen around 2% during August. Others, including lead and zinc, have also ticked higher.

Metal prices, including copper and aluminium, “appear set for an upswing in the near term as dollar bears’ case remains compelling,” Bloomberg Intelligence analysts said in a note Friday. The greenback’s recent fluctuations against other Group of 20 currencies are “unlikely to alter the case for a cyclically bearish dollar” in the second half, they added.

Copper climbed 0.3% to $9 849 a ton on the LME as of 10:48 a.m. in Singapore, on track for a 0.5% weekly gain. Aluminium rose 0.3% and zinc edged up.

© 2025 Bloomberg

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