BEIJING: Copper prices started the month on a firmer note despite a strong U.S. dollar on Friday, supported by better demand prospects as top metals consumer China issued further measures to revive a crisis-hit property market.

Three-month copper on the London Metal Exchange was up 0.8% at $8,487.50 per metric ton by 0136 GMT, after having registered its first monthly loss since May.

China’s central bank and financial regulator on Thursday issued notices to ease some borrowing rules to aid homebuyers, including lowering the existing mortgage rate for first-home buyers and the down payment ratio in some cities.

The property market accounts for a key demand sector for industrial metals.

LME aluminium gained 0.8% at $2,225 a ton, tin added 0.6% to $25,550, zinc moved up 0.8% to $2,449, lead increased 0.6% to $2,231, and nickel rose 1.1% to $20,520.

London copper set for first monthly fall since May as China data disappoints

Global demand for copper will be aided by the electric vehicle market and a fast-growing India economy, said ANZ analysts in a note.

Copper demand in India will exceed 1.5 million tons in 2025, up 40% from 2022 levels, according to ANZ.

Still, a strong dollar limited the gains and made greenback-priced metals more expensive to holders of other currencies.

The most-traded October copper contract on the Shanghai Futures Exchange dipped 0.1% to 69,420 yuan per metric ton.

SHFE aluminium rose 1% to 19,130 yuan a ton, zinc climbed 0.4% to 21,075 yuan, lead was up 2.9% at 16,800 yuan, nickel little moved at 165,480 yuan, while tin slipped 0.2% at 215,010 yuan.