From the HC news feed. Yet SFR struggles to be positive. Eight...

From the HC news feed. Yet SFR struggles to be positive. Eight week high!

File photo of a security guard walking past a shipment of copper ready to be delivered in Valparaiso city, about 121 km (75 miles) northwest of Santiago, June 29, 2009.

• Copper supply should tighten to sustain price gains -Barclays
• China manufacturing PMI expands again in September
• Chinese markets shut all week for National Day holiday
• Coming up: U.S. ISM manufacturing PMI at 1400 GMT

Copper steadied near eight-week highs on Monday after posting its biggest monthly gain in more than a year-and-a-half as improving Chinese economic data brightened the outlook for demand from the world's top consumer.
Chinese markets are shut this week for the National Day holiday, thinning trading volumes in Asia.
Three-month copper on the London Metal Exchange CMCU3 was up 0.3 percent at $4,877 a tonne by 0208 GMT, not far below Friday's peak of $4,889, its strongest since Aug. 3.
Copper gained more than 5 percent in September, its best monthly showing since February 2015, as the industrial metal played catch-up with other base metals after largely underperforming for most of the year amid expectations of rising supply.
Copper ended the third quarter nearly flat, matching a similar performance in the second quarter.
Copper inventories in LME-registered warehouses MCU-STOCKS fell 6,950 tonnes on Thursday, the biggest one-day drop since late July, although the stocks are not far below their highest level in nearly three years.
"Demand is driving the copper market into recovery, but to translate the recent price recovery into a sustainable era of higher prices, supply must do its part and offer tightness to the market," Barclays analysts said in a report.
"Until it does so, any recovery in copper is built upon uncertain ground."
Supporting sentiment in copper, activity in China's manufacturing sector expanded again in September, an official survey showed on Saturday, which may indicate that recent positive momentum can be sustained. The official Purchasing Managers' Index stood at 50.4 in September, identical with the previous month's level.
"Given the unpredictability of China, the worry for the market is now the fear that any signs of a sag within China could result in a sharp move down in the global copper price," Barclays analysts said.
Other metals outpaced copper in July-September, with lead CMPB3 rising almost 20 percent and tin CMSN3 gaining 18 percent in their widest quarterly increases in at least three years, supported by tighter supply.
Tin advanced 0.6 percent to $20,150 a tonne on Monday, matching Friday's peak which was the highest since December 2014. Lead was steady at $2,120, not far below Friday's high which was its strongest since May 2015.
Nickel CMNI3 slipped 0.3 percent to $10,540 a tonne, pulling back further from a seven-week high after the Philippines said it may not halt operations at all 20 mines facing suspension for environmental violations and will give them time to address problems - a softening of a tough stance that has seen 10 mines shut and a spike in nickel prices.