4 Min Read
MELBOURNE, March 31 (Reuters) - London copper slipped on Friday but was set to finish a second quarter higher lifted by kinks in mine supply, while a ramp-up in factory activity and fresh investor buys are expected to drive prices higher in the second quarter.
* London Metal Exchange copper fell by 1 percent to $5897.50 a tonne, as of 0200 GMT, as immediate supply threats eased. But prices were on track for a 6.5-percent gain for the first quarter following a 14-percent rise in the fourth quarter of last year.
* Shanghai Futures Exchange copper edged up by 0.3 percent to 47640 yuan ($6,905) a tonne.
* Activity in China's manufacturing sector unexpectedly expanded at the fastest pace in nearly 5 years in March, adding to evidence that the world's second-largest economy has gained momentum early this year, an official survey showed on Friday.
* U.S. President Donald Trump set the tone for a tense first meeting with Chinese President Xi Jinping next week by tweeting on Thursday that the United States could no longer tolerate massive trade deficits and job losses.
* South Korea's industrial output plunged at the fastest pace in more than eight years, government data showed on Friday, erasing gains seen in the previous month and dragged down by semiconductor production.
* Workers at Peru's biggest copper mine, Freeport-McMoRan Inc's Cerro Verde, will resume work on Friday after voting to end a nearly three-week strike that had halved output, the union said on Thursday.
* Freeport McMoRan Inc's Indonesian unit is close to reaching a deal that would allow the world's biggest publicly listed copper producer to temporarily resume concentrate exports, Indonesia's mining minister said on Thursday.
* The failure of BHP Billiton and workers at its Escondida mine to agree on a wage deal after a long and bitter strike has stoked some concerns over the possible fate of other key contract talks at copper mines in Chile over the next year.
* LME nickel was on track to fall more than 8 percent for the month, snuffing out year to date gains, and the biggest loss since loss since 11 pct drop in December, on prospects of rising Indonesian supply.
* Indonesia's state-owned miner Aneka Tambang (Antam) has been granted an initial approval to export up to 2.7 million tonnes of nickel ore over the next 12 months, a mining ministry official said on Wednesday.
* For the top stories in metals and other news, click or
* The dollar extended its overnight gains in early Asian trade on Friday on signs of strong U.S. economic growth, while the euro inched up after sliding overnight on data suggesting slowing growth in Europe.
0600 Germany Retail sales Feb
0645 France Consumer spending Feb
0645 France Producer prices Feb
0800 Germany Unemployment rate Mar
0830 Britain GDP Q4
0900 Euro zone Inflation flash Mar
1230 U.S. Personal income Feb
1345 U.S. Chicago PMI Mar
Three month LME copper
Most active ShFE copper
Three month LME aluminium
Most active ShFE aluminium
Three month LME zinc
Most active ShFE zinc
Three month LME lead
Most active ShFE lead
Three month LME nickel
Most active ShFE nickel
Three month LME tin
Most active ShFE tin
ARBS ($1 = 6.8995 Chinese yuan)
Reporting by Melanie Burton; Editing by Sherry Jacob-Phillips