Three-month copper on the London Metal Exchange advanced 0.4% to $9,546.50 a tonne by 0255 GMT, having risen as much as 0.6% earlier to $9,569, its highest since June 16. The most-traded August copper contract on the Shanghai Futures Exchange increased 1.4% to 69,790 yuan ($10,801.90) a tonne. The contract hit its highest since June 15 at 69,970 yuan earlier in the session. China's state reserves administration is scheduled to auction 20,000 tonnes of copper, 30,000 tonnes of zinc and 50,000 tonnes of aluminium on July 5-6. The copper volume being sold is equivalent to only 2.3% of China's refined output in May.

Source: Mint July 06, 2021 03:33 UTC