January 2, 2019 / 2:38 AM / 9 months ago

METALS-Copper eases for second day on China's growth concerns

    SINGAPORE, Jan 2 (Reuters) - Copper slid for a second
session on Wednesday as the market kicked off 2019 trading with
concerns over China's economic growth weighing on prices.
    
    FUNDAMENTALS
    * Three-month copper on the London Metal Exchange        
was down 0.1 percent at $5,957 a tonne by 0223 GMT, and the
most-traded contract on the Shanghai Futures Exchange         
dropped 0.6 percent to 47,900 yuan ($6,982.51) a tonne.
    * China's factory activity contracted for the first time in
19 months in December as domestic and export orders continued to
weaken, a private survey showed, pointing to a rocky start for
the world's second-largest economy in 2019.
    * The gloomy readings largely dovetailed with an official
survey on Monday, which showed growing strains on China's
manufacturing sector - a key source of jobs. The findings
reinforce views the economy is losing more steam.
    * China is the world's biggest consumer of industrial
metals. 
    * Chile's copper production touched 540,720 tonnes in
November, its highest level in 13 years, as ore grades and
efficient processing favoured increased output in the world's
top producer of the red metal, the government said on Monday.
            
    * The London Metal Exchange confirmed on Monday it would
lift its suspension on aluminium produced by Russia's Rusal if
U.S. sanctions are lifted, saying a consultation with users had
not raised any objections to the plan.
    * For the top stories in metals and other news, click       
          or             
        
    MARKETS NEWS    
    * Asian shares turned tail on the first trading day of the
new year as more disappointing economic data from China darkened
the mood and erased early gains in U.S. stock futures.
               
    
    PRICES    
    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 = 6.8600 Chinese yuan)

    
 (Reporting by Naveen Thukral, Editing by Sherry Jacob-Phillips)
  
 
 
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