Copper prices rose across major exchanges on Tuesday, supported by robust Chinese demand, even as trade war worries and a firmer dollar weighed on broader sentiment.

Three-month copper on the London Metal Exchange was up 0.44% at $9,927 per metric ton, as of 0214 GMT, while the most-traded copper contract on the Shanghai Futures Exchange gained 0.25% to 79,910 yuan ($11,171.69) a ton.

Despite concerns that the trade war would weigh on copper consumption, as well as expectations of falling prices after the U.S. refrained from imposing import tariffs on refined metal, copper demand has proven resilient, supported by strong activity in China, said analysts from ANZ.

Analysts from ING noted that the upcoming U.S. jobs report this Friday will be the focus for the market, with expectations of a weakening labour market reinforcing the case for potential rate cuts.

Broadly, a private PMI survey showed that China’s factory activity in August expanded at the quickest pace in five months on the back of rising new orders.

Still, the dollar index, which measures the U.S. currency against six major peers, was last up 0.1% at 97.709.

A firmer dollar makes greenback-denominated assets less affordable to holders of other currencies.

Among other London metals, aluminium climbed 0.42% to $2,622 a ton, and zinc rose 0.42% to $2,844.5, while nickel dipped 0.09% to $15,425, lead fell 0.17% to $2,000, and tin eased 0.16% to $34,895.

SHFE aluminium rose 0.22% to 20,715 yuan, nickel gained 0.23% to 123,050 yuan, lead edged 0.03% higher to 16,845 yuan, tin strengthened 0.02% to 273,820 yuan, and zinc climbed 0.11% to 22,220 yuan.
Source: Reuters