BEIJING Copper prices slipped on Friday, pressured by higher inventories amid weak demand, while market participants awaited trade data from top consumer China for further direction.

Three-month copper on the London Metal Exchange (LME) dipped 0.2% to US$9,771 per metric tonne by 0204 GMT. It has declined 1.8% so far this week.

The most-traded August copper contract on the Shanghai Futures Exchange (SFE) fell 1.2% to 79,080 yuan (US$10,889.86) a tonne.

Copper inventories in LME warehouses climbed to 206,775 tonnes on Wednesday, having doubled since the middle of May to their highest since October 2021.

The increase was partly attributed to more cargoes from China, which also sent the price discount for nearby contracts against the benchmark contract to record highs.

China will release its trade data later in the day. A Reuters poll showed exports likely grew at the fastest pace in 15 months in June, as manufacturers front-load shipments in anticipation of tariffs from a growing number of the country's major export markets.

Data on metals imports will also give a picture of China's demand.

LME aluminium was little moved at US$2,475 a tonne, nickel was stable at US$16,820, zinc slipped 0.5% at US$2,945, tin dropped 1.9% to US$33,995, and lead shed 0.2% to US$2,193.50.

SHFE aluminium lost 0.6% to 20,075 yuan a tonne, lead gained 0.3% at 19,525 yuan, nickel slid 0.8% to 133,000 yuan, and zinc declined 0.9% to 24,185 yuan, while tin was down 2.3% to 275,710 yuan.

  - Reuters