Copper climbs to more than one-week high, tin pulls back from record

Copper climbed to a more than one-week high on Monday amid a weak dollar, while tin pulled back from a rally that set an all-time high for the soldering metal.

The most-active copper contract on the Shanghai Futures Exchange rose 2.50% to 103,130 yuan ($14,827.97) a metric ton as of 0255 GMT, after rising as much as 3.25% to hit 103,880 yuan, the highest in more than a week.

The benchmark three-month copper on the London Metals Exchange was up 0.50% to $13,180.50 a ton, after touching $13,260, also a more-than-one-week high.

The US dollar continued to fall after last week marked the steepest weekly decline for the greenback since June, as geopolitical concerns unsettled investors, supporting metals priced with the dollar by making them cheaper for investors using other currencies.

Also helping the copper rally was mine disruptions in Chile.

Machinery contactor Finning said a labour pact had been reached on Saturday to end a blockade of BHP’s Escondida mine and Antofagasta’s Zaldivar mine by striking workers.

Union members at Finning launched a strike that blocked roads to the two mines on Friday.

Meanwhile, the strike continued at Capstone Copper’s Mantoverde mine in Chile, with the union saying the company was avoiding talks to end the strike.

Elsewhere, tin pulled back from setting records.

Shanghai’s most-traded tin contract soared 6.72% to 447,800 yuan a ton, after spiking 10.27% to set a record of 462,720 yuan earlier this session.

The London benchmark tin, however, declined 1.89% to $55,745 a ton, after setting a record of $57,515.

Tin’s gains were underpinned by speculative buying driven by supply-side constraints, traders said, with the latest coming from Indonesia, where the government launched a military-backed crackdown on illegal mining.

Tin is the best performer among base metals in 2026, gaining more than 36% in Shanghai and over 37% in London.

Elsewhere among SHFE base metals, aluminium gained 0.83%, zinc climbed 1.14%, lead nudged 0.26% higher and nickel surged 4.36%.

Among other LME metals, aluminium gained 0.36%, zinc rose 0.77%, lead added 0.22% and nickel gained 1.91%.