Three-month copper on the London Metal Exchange fell 0.7% at $8,531 a tonne by 0816 GMT. The contract has lost 5.2% so far this month. Throughout April, copper prices, viewed as a gauge of economic health, were under pressure.
China posted lower-than-expected demand for April, with participants struggling to see clear signs of any significant improvement.
"Demand indicators remain mixed in China, with construction activity stabilising around 2022 levels and property sales turning lower again," said Lynn Zhao, a commodity strategist at Macquarie. The most-traded June copper contract on the Shanghai Futures Exchange rose 1% to 67,410 yuan ($9,738.66) a tonne but was down 3.5% this month.
A weaker dollar also supported gains, as it makes the greenback-priced commodity less expensive for those holding other currencies.
The falling prices triggered bargain buying, as supply headwinds still weighed on the market, an ANZ research note said. Copper inventories in warehouses monitored by SHFE fell 6.1% on Friday to 137,095 tonnes, down 42% from a peak in February. Chinese copper miner MMG Ltd recorded a 15% on-year drop in its first-quarter copper production. LME aluminium nudged 0.3% lower to $2,312 a tonne, nickel fell 1.5% to $23,740. Zinc rose 0.2% to $2,625.50, tin gained 0.1% to $25,915, and lead ticked up 0.9% to $2,118.
SHFE aluminium slid 0.5% to 18,470 yuan a tonne, lead edged down 0.2% to 15,255 yuan, while tin climbed 2% to 212,380 yuan, nickel rose 1.3% to 182,320 yuan and zinc was up 0.2% at 21,280 yuan. SHFE will be closed from May 1-3 for a national holiday.
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