London copper rose on Friday, recovering from the previous session's loss, as mine disruptions and buying in top consumer China supported prices. Benchmark three-month copper on the London Metal Exchange was up 1.16% at $14,475 a metric ton by 0700 GMT, after dropping 1.15% in the previous session. It has climbed 1.52% so far this week, Reuters reported. The most-traded copper contract on the Shanghai Futures Exchange fell 0.57% to 110,110 yuan a ton, tracking overnight losses in London. "Copper is near record levels, supported by supply-side issues," Daniel Hynes, senior commodity strategist at ANZ, said in a note. The Yangshan copper premium - a gauge of China's appetite for imported copper - ose to $125 a ton, its highest since November 2022, on Thursday, when China returned from a week-long holiday. Copper in SHFE-monitored warehouses increased by 20,000 tons (51.6%) during the shortened week, but stocks at 58,744 tons nonetheless remain thin. A workers' union at Antofagasta's Centinela copper mine in Chile said their ongoing strike would begin to weigh on outputin November. Antofagasta earlier downplayed the impact of the strike. Disruptions at other mines added to already heightened supply risk, while stocks outside the US have fallen as copper has been pulled into the country ahead of potential tariffs on refined copper imports. The dollar index, which measures the greenback against a basket of other currencies, nudged lower. Oil prices also edged down on Friday. Both had earlier in the week weighed on industrial metals. A stronger dollar makes commodities more expensive for buyers using other currencies, while elevated energy prices threaten to stoke inflationary concerns and weigh on economic activity. Among LME metals, aluminium gained 0.79%, zinc gained 1.25%, lead gained 0.7%, nickel gained 0.66% and tin gained 0.96%. On the SHFE, aluminium lost 0.49%, zinc lost 1.12%, lead lost 1.45%, nickel lost 0.38% and tin dropped 4.23%.
