JAKARTA – Copper extended its gains after jumping nearly 3% last Friday (23/1), as a weaker dollar pushed base metal prices higher.

As of 10:00 AM Shanghai time, copper prices on the London Metal Exchange (LME) were up 0.3% at USD 13,154 per tonne, after having earlier climbed as much as 1.1%.

In addition to copper, industrial metals such as aluminium and zinc also rose alongside precious metals.

Aluminium and zinc each gained 0.3%. Tin, which surged 9.5% on Friday, briefly rose 1.2% to touch a record high of USD 57,515 per tonne before retreating.

The US dollar, which is currently in a bearish trend, has made these metals — priced in US currency — cheaper for many buyers.

As reported by Bloomberg.com on Monday (26/1), the DXY index fell 0.4% on Monday after plunging 1.6% last week, its steepest weekly decline since May 2025.

As a reminder, the dollar has come under increasing pressure amid the potential involvement of the US in foreign exchange intervention in Japan, after previously facing domestic issues such as threats to the Fed's independence and unpredictable policies under President Trump.

In line with rising industrial metal prices, shares of copper-related issuers on the Indonesia Stock Exchange (IDX) also moved higher.

Based on data from IDNFinancials.com, stocks benefiting from higher industrial metal prices include Salim Group–affiliated issuer PT Amman Mineral Internasional Tbk (AMMN).

AMMN surged by 575 points, or 7.99%, to IDR 7,775 in the first trading session on Monday (26/1).

Another gainer was Boy Thohir– and Saratoga Group–linked PT Merdeka Copper Gold Tbk (MDKA), which rose 2.73% to IDR 3,390 per share.

Shares of PT Tembaga Mulia Semanan Tbk (TBMS), a copper and aluminium producer, also climbed 2.73% to IDR 1,505. (DK/ZH)