April 13, 2017 / 2:41 AM / 9 months ago

METALS-London copper climbs as Trump comments drag dollar

    MELBOURNE, April 13 (Reuters) - London copper rose from
three-month lows on Thursday as the dollar sagged after U.S.
President Donald Trump said the country's currency was too
strong, and as traders closed positions ahead of the long
    * LME COPPER: London Metal Exchange copper rose 0.9
percent to $5,679 a tonne by 0213 GMT, paring losses from the
previous session when prices plumbed their lowest since Jan. 10
at $5,615 a tonne. Copper was set for a near 3 percent weekly
drop, the biggest in more than a month.   
    * HOLIDAYS: The LME will be closed on Friday and Monday for
the Easter break. 
    * SHFE COPPER: Shanghai Futures Exchange copper cut
early losses to trade down 1.4 percent at 45,990 yuan ($6,688) a
   * TRUMP: President Trump said on Wednesday that his
administration will not label China a currency manipulator,
backing away from a campaign promise, even as he said the dollar
was "getting too strong" and would eventually hurt the economy.

   * CHINA ECONOMY: China's economy likely grew by a solid 6.8
percent in the first quarter, the same pace as the previous
quarter, due to sustained government infrastructure spending and
a gravity-defying housing market, according to a Reuters poll of
60 economists.
    * 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, to help ensure
stability ahead of a five-yearly leadership team transition this
    * Losses amounting to hundreds of millions of dollars appear
to be pushing the Indonesian government and mining giant
Freeport McMoRan to resolve a row that has crippled
operations at Grasberg, the world's richest copper mine, for
three months.
    *  Chile, the world's biggest copper producer, faced a fresh
threat of labor action in the sector on Wednesday 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 (ILZSG)
showed on Wednesday.    
 1230  U.S.    Initial Jobless Claims weekly 
 1230  U.S.    PPI Final Demand   Mar 
 1400  U.S.    U Mich Sentiment Prelim   Apr 
 1430  U.S.    ECRI Weekly index     
 BASE METALS PRICES                                  
 Three month LME copper                          5673
 Most active ShFE copper                        45990
 Three month LME aluminium                     1908.5
 Most active ShFE aluminium                        23
 Three month LME zinc                          2622.5
 Most active ShFE zinc                          21595
 Three month LME lead                            2255
 Most active ShFE lead                              4
 Three month LME nickel                          9785
 Most active ShFE nickel                            1
 Three month LME tin                            19725
 Most active ShFE tin                               1
 BASE METALS ARBITRAGE                               
 LME/SHFE COPPER              LMESHFCUc3       494.42
 LME/SHFE ALUMINIUM           LMESHFALc3     -1301.57
 LME/SHFE ZINC                LMESHFZNc3       210.04
 LME/SHFE LEAD                LMESHFPBc3     -2061.73
 LME/SHFE NICKEL              LMESHFNIc3         1780

($1 = 6.8768 Chinese yuan)

 (Reporting by Melanie Burton; Editing by Amrutha Gayathri)
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