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METALS-Shanghai copper hovers near 3-mth low in holiday-thinned trade
April 14, 2017 / 7:24 AM / 8 months ago

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

 (Adds detail, updates prices)
    By Melanie Burton
    SYDNEY, April 14 (Reuters) - Shanghai copper closed up
slightly 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. 
    * SHFE COPPER: Shanghai Futures Exchange copper
finished up 0.2 percent at 46,110 yuan ($6,696) a tonne. 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 of
1.5 percent.   
    * LME COPPER: The London Metal Exchange was closed for the
Easter break, reopening next Tuesday. LME copper finished up 1.1
percent on Thursday.
    * NORTH KOREA TENSIONS: North Korea denounced the United
States on Friday for bringing "huge nuclear strategic assets" to
the Korean peninsula as a U.S. aircraft carrier group headed for
the region amid concerns the North may conduct a sixth nuclear
weapon test.    
    * China's Foreign Minister Wang Yi said on Friday is was
necessary to prevent the situation on the Korean peninsula from
going down an irreversible route.
    * AFGHANISTAN: News that the U.S. dropped a massive bomb in
eastern Afghanistan late on Thursday added to uncertainty.

    * CHINA GOVT SPENDING: Government spending in China
increased 25.4 percent in March from a year earlier, while
revenue rose 12.2 percent, the Ministry of Finance said on
    * CHINA EXPORT OUTLOOK: 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: Japanese and South Korean shares fell, while the
won currency came under pressure on Friday, as rising tensions
in the Korean peninsula dented confidence in the world's
    * For the top stories in metals and other news, click       
 BASE METALS PRICES              0703 GMT           
 Three month LME copper                            0
 Most active ShFE copper                       46090
 Three month LME aluminium                         0
 Most active ShFE aluminium                    14220
 Three month LME zinc                              0
 Most active ShFE zinc                         21425
 Three month LME lead                              0
 Most active ShFE lead                         16165
 Three month LME nickel                            0
 Most active ShFE nickel                       80670
 Three month LME tin                               0
 Most active ShFE tin                         140970

($1 = 6.8864 Chinese yuan renminbi)

 (Reporting by Melanie Burton; Editing by Joseph Radford)

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