December 4, 2018 / 2:13 AM / 6 months ago

METALS-Copper prices ease on trade truce doubts

    BEIJING, Dec 4 (Reuters) - Copper and most other base metals
gave up some of Monday's gains in early Asian trade on Tuesday,
as doubts over whether China and the United States will be able
to resolve their trade row within a 90-day timeframe came into
    Metals prices, weighed down by the trade dispute this year,
had bounced on Monday after Washington and Beijing agreed to
hold off on imposing further tariffs for 90 days.
    However, it has since emerged that none of the commitments
U.S. officials said had been given by China, including reducing
its 40 percent tariffs on autos, were agreed to in writing and
specifics have yet to be ironed out.   
    * LME COPPER: Three-month copper on the London Metal
Exchange slipped 0.5 percent to $6,265 a tonne as of
0152 GMT, after rising 1.6 percent in the previous session.
    * SHFE COPPER: The most-traded January copper contract on
the Shanghai Futures Exchange fell 0.3 percent to
49,850 yuan ($7,245.01) a tonne.
    * COPPER PREMIUMS: Premiums for imports of copper into
China, the world's biggest copper consumer, sank to an 18-month
low on Monday in a sign that demand for physical metal is waning
after a buying spree.
    * OTHER METALS: Losses elsewhere in the base metals sector
were capped at 0.5 percent, with Shanghai zinc and tin
, and London lead and nickel all edging
    * GLENCORE: Glencore has appointed Peter Freyberg
to the newly created role of head of industrial mining, the
global trader and miner said, while its head of copper marketing
Telis Mistakidis retires at the end of the year.
    * LITHIUM: China's Tianqi Lithium Corp has
purchased a 23.77 percent share in Chilean lithium miner SQM
 from Canadian fertilizer giant Nutrien, the
Chilean stock exchange said on Monday, for a total sale price of
$4.066 billion.
    * COLUMN: Trade war relief for metals, but bull-bear battle
rages on: Andy Home 
    * For the top stories in metals and other news, click       
    * Asian shares fell in early trade on Tuesday as a relief
rally sparked by the truce in the U.S.-China trade war gave way
to doubts on whether the two countries are able to resolve their
differences before a 90-day deadline.    
    1000  Euro zone producer prices Oct
    1445  U.S.    ISM-New York index Nov    
 BASE METALS PRICES                        0153 GMT
 Three month LME copper                        6264
 Most active ShFE copper                      49850
 Three month LME aluminium                     1973
 Most active ShFE aluminium                   13765
 Three month LME zinc                          2575
 Most active ShFE zinc                        21150
 Three month LME lead                          1970
 Most active ShFE lead                        18490
 Three month LME nickel                       11270
 Most active ShFE nickel                      91770
 Three month LME tin                          18800
 Most active ShFE tin                        144590
 BASE METALS ARBITRAGE                             
 LME/SHFE COPPER              LMESHFCUc3     -24.09
 LME/SHFE ALUMINIUM           LMESHFALc3   -1875.14
 LME/SHFE ZINC                LMESHFZNc3    -200.46
 LME/SHFE LEAD                LMESHFPBc3    1591.84
 LME/SHFE NICKEL              LMESHFNIc3      709.7
 ($1 = 6.8806 Chinese yuan renminbi)

 (Reporting by Tom Daly
Editing by Joseph Radford)
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