The Shanghai Futures Exchange (SHFE) was mostly quiet on Friday, as the market settled after a policy boost late last month.

Codelco suspended activities at its El Teniente mine on 31 July after an accident left one worker dead, nine injured and five missing. The cause of the accident is under investigation. El Teniente is the world's largest underground copper mine, with 8.8mn t of copper reserves, as of 31 December 2024.

The most traded copper September contract rebounded 0.5pc from yesterday's close to 78,400 yuan/t ($10,888.21/t). The aluminium September contract was unchanged at Yn20,510/t and held flat for the week because of low buying interest from aluminium producers. The nickel September contract edged down by 0.1pc to Yn119,770/t. Zinc for September delivery slipped by 0.1pc to Yn22,320/t. The tin September contract fell by 0.1pc to Yn264,950/t, and the lead September contract was flat at Yn16,735/t.

Copper inventories in SHFE-designated warehouses fell by 880t from last week to 72,543t. Aluminium stocks rose by 1,737t to 117,527t, while zinc stocks increased by 2,305t to 61,724t. Tin inventories rose by 254t to 7,671t, and nickel stocks rose by 299t to 25,750t. Lead inventories edged up by 29t to 63,283t on the week.