May 2, 2017 / 2:05 AM / 9 months ago

METALS-Firmer copper prices pull most metals higher

SYDNEY, May 2 (Reuters) - Copper futures rose sharply on Tuesday as investors returned from a three-day weekend in most of Asia with a renewed appetite for industrial commodities.

The near across-the-board gains in both London Metal Exchange and Shanghai Futures Exchange prices were aided by advances in Asian stocks on easing concerns over North Korea, commodities traders said.

COPPER: Three-month copper on the London Metal Exchange gained 1.0 percent to $5,790 a tonne by 0155 GMT, building on gains from the last session on Friday.

SHANGHAI: The most-traded copper contract on the Shanghai Futures Exchange rose 1.5 percent to 46,940 yuan ($6,813) a tonne. Both exchanges were closed on Monday for Labour Day.

GRASBERG PROTEST: Thousands of workers from the Indonesian unit of Freeport McMoRan Inc staged a rally near its Papua mine on Monday, a union leader said, protesting against layoffs by the miner due to a contract dispute with the government.

CHILE COPPER RESTART: Anglo American plans to restart production shortly at its El Soldado copper mine in Chile as regulators have approved a new permit plan for the deposit.

LEAD: LME lead built on strong gains last week to trade 0.9 percent higher at $2,269 a tonne, reinforced by falling warehouse stocks. Stocks in LME-registered warehouses have fallen 13 percent to 165,275 tonnes over the last 27 days, their lowest in more than a year. MPBSTX-TOTAL ShFE lead also took flight, rising 2.5 percent to 16,690 yuan a tonne.

EASING TENSIONS: Worries about tensions over the Korean peninsula eased slightly after U.S. President Donald Trump on Monday opened the door to meeting North Korea’s Kim Jon Un, saying he would be honoured to meet the young leader under the right circumstances.

MARKETS NEWS: Asian shares advanced on Tuesday, helped by rising optimism on the technology industry and easing concerns over North Korea, while the dollar edged up to one-month high versus the yen.

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DATA/EVENTS 0145 China Caixin manufacturing PMI final Apr 0750 France Markit manufacturing PMI Apr 0755 Germany Markit/BME manufacturing PMI Apr 0800 Euro zone Markit manufacturing PMI final Apr 0900 Euro zone Unemployment rate Mar 1345 U.S. ISM-New York index Apr Federal Open Market Committee starts two-day policy meeting


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 = 6.8900 Chinese yuan renminbi)

Reporting by James Regan; Editing by Richard Pullin

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