July 10, 2018 / 2:25 AM / a year ago

METALS-Copper climbs for second day as metals claw back ground

    BEIJING, July 10 (Reuters) - Copper prices in London and
Shanghai were rising for a second day on Tuesday, with investors
lured to buy low after a trade war-fuelled sell-off last week.
    The United States on Friday slapped tariffs on $34 billion
of goods from top metals consumer China, which responded in
kind. Fears the spat could dampen demand for industrial metals
had weighed on prices.
    * LME COPPER: Three-month copper on the London Metal
Exchange had risen 0.5 percent to $6,423 a tonne by 0150
GMT, extending a 1.7-percent gain from the previous session. The
metal lost more than 5 percent last week.
    * SHFE COPPER: The most-traded September copper contract on
the Shanghai Futures Exchange added 0.7 percent to
reach 49,890 yuan ($7,545.03) a tonne.
    * ZINC: There was no such respite for Shanghai zinc
, however. The metal, used to galvanise steel, fell as
much as 1.8 percent to 21,855 yuan, having lost 5.3 percent last
week on trade war fears and expectations of higher supply.
    * RUSAL: United Company Rusal, the world's second
biggest aluminium producer, in May increased aluminium exports
to 197,000 tonnes, up almost threefold from April, Interfax news
agency reported. {nL5N1T72B2]
    * BLOCKCHAIN: Online metal concentrates exchange Open
Mineral is seeking to build a consortium of mining companies and
financial institutions to create a blockchain system for
minerals trading and logistics.
    * BATTERIES: Chinese battery maker Contemporary Amperex
Technology Ltd 300750.SZ (CATL) will build its first production
site in Europe in Germany, agreeing a major contract with BMW
 to supply lithium-ion batteries. {nL8N1U529C]
    * COLUMN: Beer versus aluminium; the U.S. battle-lines are
drawn again: Andy Home
    For the top stories in metals and other news, click       
    * Asian shares sought to rally for a third session on
Tuesday as hopes for upbeat corporate earnings buoyed Wall
Street, while several high-profile resignations from Britain's
government kept sterling on the defensive.    
    0645  France    Industrial output May
    0900  Germany   ZEW economic sentiment Jul
    1000  U.S.      NFIB business optimism Jun
 BASE METALS PRICES                        0149 GMT
 Three month LME copper                      6424.5
 Most active ShFE copper                      49880
 Three month LME aluminium                   2124.5
 Most active ShFE aluminium                   14190
 Three month LME zinc                          2701
 Most active ShFE zinc                        21885
 Three month LME lead                          2341
 Most active ShFE lead                        19515
 Three month LME nickel                       14235
 Most active ShFE nickel                     111960
 Three month LME tin                          19670
 Most active ShFE tin                        143970
 BASE METALS ARBITRAGE                             
 LME/SHFE COPPER              LMESHFCUc3     368.56
 LME/SHFE ALUMINIUM           LMESHFALc3   -2156.32
 LME/SHFE ZINC                LMESHFZNc3     393.18
 LME/SHFE LEAD                LMESHFPBc3      50.61
 LME/SHFE NICKEL              LMESHFNIc3     360.57
 ($1 = 6.6123 Chinese yuan renminbi)

 (Reporting by Tom Daly
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