Reuters logo
METALS-Shanghai copper hovers near 3-mth low in holiday-thinned trade
April 14, 2017 / 1:38 AM / 5 months ago

METALS-Shanghai copper hovers near 3-mth low in holiday-thinned trade

    SYDNEY, April 14 (Reuters) - Shanghai copper edged up on
Friday but was still mired near its weakest for the year as
mounting geopolitical tensions curbed appetite for risk, while
London markets were closed for the Easter holiday. 
    
    FUNDAMENTALS
    * SHFE COPPER: Shanghai Futures Exchange copper had
risen 0.5 percent to 46,290 yuan ($6,722) a tonne by 0114 GMT.
On Thursday, it fell to its lowest since Jan. 4 at 45,520 yuan.
Prices were set to close lower for a second week, with losses
targeting 1.5 percent.   
    * LME COPPER: The London Metal Exchange was closed for the
Easter break, reopening on Tuesday. LME copper finished up 1.1
percent on Thursday.
    * NORTH KOREA TENSIONS: Military force cannot resolve
tension over North Korea, China said on Thursday, while an
influential Chinese newspaper urged the North to halt its
nuclear programme in exchange for Chinese protection.

    * AFGHANISTAN: News that the U.S. dropped a massive bomb in
eastern Afghanistan late on Thursday added to uncertainty.

    * CHINA ECONOMY: China's 2017 export outlook brightened
considerably on Thursday as it reported forecast-beating trade
growth in March and as U.S. President Donald Trump softened his
anti-China rhetoric in an abrupt policy shift.
    * U.S. ECONOMY: The number of Americans filing for
unemployment aid unexpectedly fell last week and consumer
sentiment rose early this month amid continued optimism over
household finances, suggesting a sharp slowdown in job growth in
March was an aberration.
    * COPPER SUPPLY: State copper commission Cochilco forecast
on Thursday that Chile would produce slightly less than 5.6
million tonnes of copper in 2017, down from a previous forecast
of 5.79 million, due largely to a strike at BHP Billiton's
 Escondida mine.
    * MARKETS: Wall Street indexes fell along with U.S. Treasury
yields on Thursday on safe-haven demand spurred by geopolitical
worries, and the U.S. dollar rebounded after a sell-off
following remarks by Trump on Wednesday was seen as an
overreaction.    
    * For the top stories in metals and other news, click       
 or     
        
        
        PRICES    
    
 BASE METALS PRICES               0112 GMT           
 Three month LME copper                             0
 Most active ShFE copper                        46270
 Three month LME aluminium                          0
 Most active ShFE aluminium                     14130
 Three month LME zinc                               0
 Most active ShFE zinc                          21650
 Three month LME lead                               0
 Most active ShFE lead                          16305
 Three month LME nickel                             0
 Most active ShFE nickel                        81680
 Three month LME tin                                0
 Most active ShFE tin                          142560
 

($1 = 6.8865 Chinese yuan renminbi)

    
 (Reporting by Melanie Burton; Editing by Joseph Radford)
  
 
 

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below