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METALS-Copper edges up as vaccine hopes boost risk appetite

Nov 10 (Reuters) - Prices of copper, often used as a gauge of global economic health, rose on Tuesday as progress in the development of a coronavirus vaccine stoked optimism that a complete economic reopening was finally in sight.

Three-month copper on the London Metal Exchange rose 0.5% to $6,950 a tonne by 0123 GMT, while the most-traded December copper contract on the Shanghai Futures Exchange advanced 0.2% to 52,150 yuan ($7,868.14) a tonne.

Pfizer Inc said its experimental vaccine was more than 90% effective in preventing COVID-19 based on initial data from a large study.

FUNDAMENTALS

* LME aluminium rose 0.5% to $1,903 a tonne, zinc advanced 0.4% to $2,653 a tonne while ShFE nickel climbed 1.1% to 118,020 yuan a tonne and ShFE zinc was up 0.6% to 20,375 yuan a tonne.

* COLUMN-China’s copper import boom leaves other metals cold: Andy Home.

* Chile’s copper industry could see some of its mines put out of business if an early stage bill to protect glaciers continues its march through Congress, Chilean mining trade group Sonami said.

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

MARKETS NEWS

* Global stocks and oil jumped and Treasuries sold off on Monday as Pfizer’s announcement jolted shares, building on expectations of more stable trade policies following the U.S. election.

DATA/EVENTS (GMT)

0700 UK Claimant Count Unem Chng Oct

0700 UK ILO Unemployment Rate Sep

1000 Germany Zew Economic Sentiment Nov

1000 Germany Zew Current Conditions Nov

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

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