July 31 (Reuters) - Prices of most base metals prices rose on Wednesday, supported by a softer dollar, but the metals were headed for a monthly fall due to weak China demand.
Three-month copper on the London Metal Exchange rose 1.6% to $9,115.50 per metric ton by 0446 GMT, while the most-traded September copper contract on the Shanghai Futures Exchange climbed 1% to 74,220 yuan ($10,256.20) a ton.
LME aluminium rose 1.3% to $2,253 a ton, nickel jumped 1.9% to $16,370, zinc advanced 1.9% to $2,679, lead increased 1% to $2,054.50 and tin climbed 4.8% to $30,150.
SHFE aluminium edged up 0.3% at 19,090 yuan a ton, nickel jumped 3.5% to 131,860 yuan, zinc SZNcv1> advanced 0.8% to 22,750 yuan, lead increased 0.9% to 18,850 yuan and tin was up 1.9% at 248,940 yuan.
The dollar index was softer on Wednesday, making greenback-priced metals cheaper to holders of other currencies.
However, LME copper was still on track for the second straight monthly fall and aluminium was set for the biggest monthly loss since June 2022.
Weak demand in top metals consumer China has been the main driver for the price fall.
China's manufacturing activity slipped to a five-month low in July as factories grappled with falling new orders and low prices, pointing to a grinding second half for the world's production powerhouse.
The manufacturing sector accounts for a large portion of metals demand.
Physical demand needs to show up first for the market to know where the floor price is, said Guy Wolf, global head of market analytics at Marex, adding that the price rebound could be swift when Chinese buyers are happy to purchase.
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($1 = 7.2366 yuan) (Reporting by Mai Nguyen in Hanoi; Editing by Janane Venkatraman )
