July 13, 2017 / 1:37 AM / 6 months ago

METALS-Weaker dollar lifts Shanghai copper prices

SYDNEY, July 13 (Reuters) - Chinese copper futures rose in early Asian trading on Thursday, buoyed by a weaker U.S. dollar.

The dollar index against a basket of major currencies was flat at 95.636 after retreating as low as 95.511 the previous day, its weakest in 12 days.


* SHANGHAI COPPER: The most-traded copper contract on the Shanghai Futures Exchange was 0.19-percent firmer at 47,300 yuan ($6,969.72) a tonne.

* LONDON COPPER: Three-month copper on the London Metal Exchange was flat at $5,905 a tonne by 0105 GMT after posting modest gains in the previous session.

* COPPER JOBS: Chilean copper mine Collahuasi, a joint venture of Anglo American and Glencore will cut 115 jobs, including executives, as part of a plan to boost efficiency amid low prices for the metal.

* ARGENTINA SUSPENSION: A federal court in Argentina has ordered the suspension of activities at Glencore Plc’s Alumbrera gold and copper mine as part of a pollution complaint, according to court documents seen by Reuters

* ZINC: ShFE zinc retreated 0.43 percent after opening higher, while LME zinc contracted 0.5 percent to $2,818 a tonne.

Zinc prices climbed to their highest in more than three months on Wednesday as the market worried about falling stocks in exchange warehouses, shortages and expectations of stronger demand from China.

* INVENTORIES: Stocks of zinc in LME warehouses, at 273,675 tonnes, are down more 35 percent since the start of the year. A tight market is being exacerbated by cancelled warrants - metal earmarked for delivery - at nearly 75 percent. MZNSTX-TOTAL

* RUSAL: Russia’s Rusal has resumed construction of its long-stalled Taishet aluminium smelter project in Siberia in expectation of a widening global aluminium deficit.

* For the top stories in metals and other news, click or


* The dollar was capped against a basket of currencies early on Thursday after Federal Reserve Chair Janet Yellen did not sound as hawkish as many had anticipated, while the Canadian dollar stood near a 13-month high after its country’s central bank hiked interest rates for the first time since 2010.

* Japan’s benchmark Nikkei stock average climbed 0.3 percent on Thursday after global equities rallied the previous day, lifting the Dow to a record high.


* The following data is expected on Thursday: (Time in GMT)

0600 Germany Final consumer prices Jun

0645 France Consumer prices (INSEE) Jun

1230 U.S. Producer prices Jun

1230 U.S. Jobless claims weekly

1000/1400 U.S. Fed Chair Janet Yellen delivers her 2nd day of semiannual monetary policy testimony before the Senate Banking Committee


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 = 6.7865 Chinese yuan renminbi)

Reporting by James Regan; Editing by Joseph Radford

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