Shanghai copper gains on strong China industrial output data

SHANGHAI, - Shanghai copper gained on Monday as stronger-than-expected China industrial output last month boosted investor sentiment, even though economic growth slowed to a one-year low in the September quarter.

The most-active copper contract on Shanghai Futures Exchange closed daytime trading 0.78% higher at 85,380 yuan per metric ton.

The benchmark three-month copper on the London Metal Exchange rose 0.58% to $10,666 a ton by 0752 GMT.

China's industrial output grew 6.5% year-on-year in September, up from 5.2% in the prior month, data released by the National Bureau of Statistics showed. The figure marks a three-month high and beat a forecast of 5.0% growth.

China's gross domestic product grew 4.8% in the third quarter, the slowest pace in a year, down from 5.2% in the second quarter.

The world's second-largest economy grew 5.2% in the first three quarters, and is aiming for a full-year growth of around 5%.

"We are expecting to see more supporting measures to boost economic growth in the future amid tariff threats and looming trade war," a copper trader based in Shanghai said on condition of anonymity as he is not authorised to talk to media.

Likely copper shortage in 2026 remains a concern for the market, as mining disruptions, including at the Grasberg mine in Indonesia, the world's second-biggest, have limited supply.

Among other SHFE base metals, aluminium dipped 0.33%, zinc ticked down 0.25%, nickel shed 0.52%, tin lost 0.44%, while lead was little changed.

Among other LME metals, aluminium nudged up 0.16%, zinc added 0.58%, nickel dipped 0.14%, lead rose 0.36% and tin was down 0.39%.

This article was generated from an automated news agency feed without modifications to text.