Copper prices on the Shanghai Futures Exchange weakened during Asian morning trading on Tuesday, with a firmer dollar and easing supply concerns weighing on investors’ appetite for the red metal.

The most-traded August copper contract price on the SHFE dropped to 53,830 yuan ($8,407) per tonne as at 10.28am Shanghai time, down 330 yuan per tonne from Monday’s close.

Check Metal Bulletin's live futures report here.

LME snapshot at 3.35am London time
Latest three-month LME Prices
  Price
($ per tonne)
 Change since Monday's close ($)
Copper 7,221 -34
Aluminium 2,313 12
Lead 2,482 7
Zinc 3,186 -15
Tin 21,030 -145
Nickel 15,235 -55

SHFE snapshot at 10.28am Shanghai time
Most-traded SHFE contracts
  Price (yuan per tonne)  Change since Monday's close (yuan)
Copper  53,830 -330
Aluminium 14,925 10
Zinc 24,380 -65
Lead 20,510 -35
Tin  151,810 -330
Nickel  114,830 -950

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Physical cobalt prices fell again on June 8, faced with cheaper metal supplies, seasonally weaker spot demand and poor sentiment, market sources told Metal Bulletin.

Steel plate prices in the United States are up for the second week in a row on a potential supply squeeze stemming from Section 232 tariffs on the European Union, Canada and Mexico.

Buying activity in the Commonwealth of Independent States export slab market has shown signs of recovery during the week ended Monday as several bookings were heard done in Southeast Asia and the Middle East.