Copper hovers near one-week high, tin pulls back from record

Copper hovered near a one-week high on Monday amid a weak dollar, while tin pulled back from a rally that set a record for the soldering metal.

The most-active copper contract on the Shanghai Futures Exchange closed daytime trading up 1.26% to 101,880 yuan ($14,645.30) a metric ton, pulling back from 103,880 yuan, the highest in more than a week.

The benchmark three-month copper on the London Metals Exchange was, however, down 0.56% to $13,041 a ton as of 0700 GMT, after touching $13,260, also a more-than-one-week high.

The U.S. 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 in dollars by making them cheaper for investors using other currencies.

Also helping the copper rally were 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 on Friday that blocked roads to the two mines.

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 climbed 1.37% to 425,340 yuan a ton, after spiking 10.27% to set a record of 462,720 yuan earlier this session.

The London benchmark tin, however, tumbled 6.10% to $53,350 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-performing base metal in 2026, gaining more than 36% in Shanghai and over 37% in London.

Elsewhere among SHFE base metals, aluminium gained 0.33%, zinc climbed 0.65%, nickel rose 0.25% and lead dipped 0.15%.

Among other LME metals, aluminium gained 0.13%, zinc rose 0.84%, lead added 0.05% and nickel lost 1.87%.