3 Min Read
MELBOURNE, July 14 (Reuters) - London copper was marking time on Friday at the top of its recent range, with encouraging import data from China and improved prospects for the global economy supporting prices.
* London Metal Exchange copper had eased 0.1 percent to $5,869 a tonne by 0211 GMT, extending small losses from the previous session. Prices have failed at the $5,930-$5,970 band five times in the past fortnight, reflecting formidable chart-based resistance at this level. Support is seen at the 100-day moving average at $5,761 a tonne.
* Shanghai Futures Exchange copper slipped 0.6 percent to 47,030 yuan ($6,933) a tonne.
* Zinc and lead fell by around half a percent in London and by around 2 percent in Shanghai, weighed down by falls in steel prices.
* The number of Americans filing for unemployment benefits fell last week for the first time in a month and producer prices unexpectedly rose in June, likely keeping the Federal Reserve on course for a third interest rate increase this year.
* China posted stronger-than-expected June trade figures on Thursday, bolstered by firm global demand for Chinese goods and robust appetite for construction materials at home, but local curbs on lending could weigh on imports later this year.
* Workers at the Zaldivar copper mine in Chile, owned by Antofagasta Plc and Barrick Gold Corp, will resume talks with Antofagasta after voting to strike earlier this week, the union said on Thursday.
* The LME is trying revamp its digital metal storage system LMEshield, which registers material stored in non-exchange warehouses to guard against fraud, after scant uptake since it was launched over a year ago.
* For the top stories in metals and other news, click or
* Global stocks scaled record highs on Friday, with Asian equities rising for the fifth straight session, as signs the Federal Reserve will pursue a gradual rate tightening path and hopes of a strong earnings season lifted appetite for risk assets.
0600 Germany Final consumer prices Jun
0645 France Consumer prices (INSEE) Jun
1230 U.S. Producer prices Jun
1230 U.S. Jobless claims weekly
1000/1400 U.S. Fed Chair Janet Yellen delivers her 2nd day of semiannual monetary policy testimony before the Senate Banking Committee
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 = 6.7831 Chinese yuan renminbi)
Reporting by Melanie Burton; Editing by Joseph Radford