* LME/SHFe arb: tmsnrt.rs/2oQ5nm2
(Updates with closing prices)
By Zandi Shabalala
LONDON, April 13 Copper prices rebounded from
their lowest level in three months on Thursday, helped by a
weaker dollar and upbeat trade data from China, the largest
consumer of the metal, that spurred hopes for higher demand.
Benchmark copper on the London Metal Exchange closed
1.1 percent lower at $5,692 tonne, after falling to its lowest
since Jan. 10 in the previous session.
"The China data definitely shows a recovery from recent
lows, so its not surprising to see prices higher," said Eugene
Weinberg, head of commodities research at Commerzbank.
* CHINA: China's 2017 export outlook brightened considerably
after it reported forecast-beating trade growth in March and
U.S. President Donald Trump softened his anti-China rhetoric in
an abrupt policy shift.
* COPPER: China's imports of copper rose 26.5 percent from
month ago to 430,000 tonnes in March, data from the General
Administration of Customs showed.
* DOLLAR: The dollar index slid to a two-week low
after U.S. President Donald Trump said it was too strong. A
lower U.S. currency makes dollar-denominated metals cheaper for
holders of other currencies, which could boost demand.
* TECHNICALS: Copper support seen at Wednesday's low around
$5,600/15, a breach could see a test of $5,500. Resistance seen
at $5,800 near the 100-day moving average.
* China's central bank has been quietly boosting its policy
independence and regulatory reach as it seeks to contain risks
to the financial system, policy insiders said, helping ensure
stability before a five-yearly leadership team transition this
* Losses amounting to hundreds of millions of dollars appear
to be pushing Indonesia and miner Freeport McMoRan to
resolve a row that has crippled operations at Grasberg for three
* Chile, the world's biggest copper producer, faces a fresh
threat of labour action when a union at the large Chuquicamata
mine said it had blocked access as a "warning" over planned
changes to job opportunities.
* The global zinc market moved into a surplus of 19,800
tonnes in February from a deficit of 22,300 tonnes in January,
data from the International Lead and Zinc Study Group showed.
* ALUMINIUM: China exported 410,000 tonnes of unwrought
aluminium and aluminium products, up from February's 260,000
tonnes. China's aluminium makers have stepped up exports as a
healthier global manufacturing climate and declining world
stockpiles boost demand.
* OTHER METALS: LME aluminium gained 0.6 percent to
$1,910, nickel inched 0.1 percent lower to $9,750, while
tin was up 1 percent at $19,605. Lead fell 0.1
percent to $2,239. Zinc fell 0.7 percent to $2,624,
edging close to January lows touched this week.
(Additional reporting by Melanie Burton in Melbourne; Editing
by Edmund Blair)