(Recasts, adds quotes, updates with closing prices)
* LME-SHFE arb: tmsnrt.rs/2oQ5nm2
By Peter Hobson
LONDON, April 19 Copper fell for a second day on
Wednesday after a surge of fund selling just before the close
reversed gains and drove the metal to a 14-week low, traders
"$5,500 seems to be a key level. There appears to be an
attempt to push it through that," David Wilson, an analyst at
* LME COPPER: Three-month copper on the London Metal
Exchange closed down 0.3 percent at $5,556 a tonne, its
lowest since Jan 9. The metal fell 2.1 percent on Tuesday.
"Should (copper) fail to close above $5652 today for a
second day running, we might be on track for a possible test of
next support at $5,536," said Edward Meir, an analyst at INTL
* CHINA SUPPLY: Chinese refined copper output in March rose
8.5 percent from a year ago to 764,000 tonnes, the highest since
at least December 2015, official data showed. Aluminium and iron
ore output levels were the lowest in months.
* CHINA DEMAND: Prices in China's sizzling property market
accelerated in March on a monthly basis, while the International
Monetary Fund raised forecasts for China's economic growth in
2017 and 2018.
* FREEPORT: Freeport McMoRan Inc received
preliminary approval to resume copper concentrate exports from
the world's second-largest copper mine in Indonesia and hopes to
apply for an export permit this week.
* CHILE DISRUPTION: Chile's Codelco suspended
operations at the concentrator plant at its Salvador copper mine
after a supervisor died in an accident. Salvador produced 60,000
tonnes of copper in 2016.
* LME ZINC: Zinc closed up 1 percent at $2,550 a
tonne, rising above its 200-day moving average, currently at
$2,235, after falling to a 3 1/2-month low on Tuesday.
* ZINC TECHNICALS: If zinc holds above $2,520-$2,515 a
tonne, "a tentative pullback is likely towards the near term
steeper channel at $2,590/$2,608 and perhaps even to the
multi-month graphical levels of $2,645", said Stephanie Aymes,
head of technical analysis at Societe Generale.
* NICKEL: The global market for refined nickel deepened its
deficit to 4,400 tonnes in February from a deficit of 1,100
tonnes in January, data from the International Nickel Study
* LME LEAD: Lead also rose back above its 200-day
moving average after falling 6.2 percent on Tuesday. It ended up
2.6 percent at $2,160 a tonne.
* OTHER METALS: LME Aluminium closed up 0.6 percent
at $1,903 a tonne. Tin did not trade but was bid 1.5
percent higher at $19,775. Nickel finished up 0.3
percent at $9,340, after touching $9,305, its lowest since June,
(Additional reporting by Melanie Burton; Editing by Edmund
Blair/Adrian Croft/Alexander Smith)