Copper dips ahead of key China data, supply concerns lend support
London and Shanghai copper prices dipped on Thursday ahead of economic data from top consumer China, though supply disruptions and lower production forecasts lent some support to the market.
Three-month copper on the London Metal Exchange 
HG1! was down 0.15% at $9,788.5 per metric ton by 0709 GMT, while the copper contract on the Shanghai Futures Exchange HG1! eased 0.49% to 78,950 yuan ($11,008.39) a ton.
The market is awaiting critical China data on Friday, with retail sales, industrial production, and fixed asset investment expected to show some improvement despite trade concerns, according to ANZ analysts.
Recent supply-side factors are providing support to prices, with Codelco's El Teniente suspending copper mining following a tunnel collapse that could see operations halted for months, ANZ said.
Additionally, Adani Enterprises 
ADANIENT has applied for a new major copper smelter in India to be listed on the LME. The smelter has an annual production capacity of 500,000 metric tons and is the world's biggest single-location plant of its type.
Copper listed for storage in LME-registered warehouses can be delivered against copper futures traded on the exchange.
Meanwhile, Chile's copper commission lowered its 2025 production growth forecast to 1.5% year-on-year, down from a 3% estimate in May.
Analysts attributed the lower forecast to a decline in June production at mines operated by top companies, including BHP 
BHP, Anglo American 
AAL, and Glencore 
GLEN.
Among other London metals, aluminium 
ALI1! edged 0.06% lower to $2,614.5 a ton, nickel 
NICKEL1! fell 0.48% to $15,190, lead 
LEAD1! lost 0.25% to $1,983, tin 
FTIN1! fell 0.33% to $33,620, and zinc 
ZNC1! eased 0.46% to $2,816.
SHFE aluminium ALI1! dipped 0.38% to 20,715 yuan, nickel NICKEL1! eased 1.26% to 121,200 yuan, lead LEAD1! lost 0.92% to 16,770 yuan, tin FTIN1! fell 1.01% to 267,420 yuan, and zinc ZNC1! lost 0.84% to 22,480 yuan.
For the top stories in metals and other news, click
or
($1 = 7.1718 Chinese yuan)
