HANOI, June 7 (Reuters) - London copper prices fell on
Monday, as lower-than-expected Chinese exports data sparked
concerns of weakening demand for the red metal, which is often
considered a bellwether of the global economy due to its wide
Three-month copper on the London Metal Exchange was
down 0.5% at $9,903 a tonne, as of 0725 GMT, while the
most-traded July copper contract on the Shanghai Futures
Exchange closed up 0.4% at 71,390 yuan ($11,155.73) a
tonne, tracking gains in London made in the previous session.
China's exports in May grew 27.9% on-year, but slower than
the 32.3% growth in April, and missing analysts' forecast of
32.1%, with an economist attributing a COVID-19 outbreak in
manufacturing hub Guangdong that slowed down activities at its
ports to the fall in shipments.
"The only news that came out since (the dip) is the China
export data," said a Singapore-based metals trader.
"Friday's rebound had already run its course, so there's a
need to retrace lower first before it (price) can go up. The
medium-long term view is still bullish due to a weaker U.S.
dollar," the trader added, referring to a 1.7% gain in London on
* ShFE aluminium advanced 0.7% to 18,435 yuan a
tonne, nickel fell 1.1% to 129,530 yuan a tonne, tin
rose 0.4% to 203,420 yuan a tonne, while lead
was down 1% at 14,945 yuan a tonne.
* LME nickel shed 1.6% to $17,730 a tonne while zinc
declined 0.9% to $2,983 a tonne.
* Russian nickel producer Nornickel has resumed
ore mining at the second of its two mines hit by flooding this
* Global copper smelting extended its rebound in May,
touching fresh highs for the year as operations continued to
take advantage of strong prices, data from satellite
surveillance of copper plants showed.
* For the top stories in metals and other news, click
($1 = 6.3994 yuan)
(Reporting by Mai Nguyen, Editing by Sherry Jacob-Phillips and