February 14, 2019 / 1:44 AM / in 2 months

METALS-Copper prices inch up ahead of China trade data

    BEIJING, Feb 14 (Reuters) - London copper prices edged
higher for a second session in early Asian trade on Thursday as
investors awaited their cue from the latest trade data from top
metals consumer China and the Sino-U.S. trade talks in Beijing. 
    China is due to report its copper import and aluminium
export numbers for January later in the day.
        
    FUNDAMENTALS
    * COPPER: Three-month copper on the London Metal Exchange
 was up 0.3 percent at $6,142.50 a tonne, as of 0115 GMT,
extending a 0.3 percent gain from the previous session. 
    * SHFE COPPER: The most-traded March copper contract on the
Shanghai Futures Exchange also added 0.3 percent to
48,310 yuan ($7,146.66) a tonne. 
    * TRADE: U.S. Treasury Secretary Steven Mnuchin said on
Thursday he was "looking forward" to trade talks with China as
the two countries were set to begin formal high-level
discussions in Beijing.
    * ZINC: Floods in Australia's Queensland state are set to
disrupt the rail delivery of zinc exports to the northern port
of Townsville, with the line likely to be out of action for at
least a month, analysts said on Wednesday. The metal used to
galvanise steel rose by 0.4 percent in London after
ending down 0.3 percent in the previous session.
    * SOUTH32: The world's largest manganese miner South32 Ltd
 on Thursday posted an 18 percent rise in half-year
underlying profit as a surge in metallurgical coal output and
stronger commodity prices helped boost its bottom-line.

    * For the top stories in metals and other news, click       
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    MARKETS NEWS    
    *  Asian stock markets started in a cautious mood as
investors hoped for progress in the latest Sino-U.S. tariff
talks while bracing for China trade data that are expected to
show further falls in both exports and imports.    
        
    DATA/EVENT AHEAD (GMT)
*0200 China          Prelim Trade Jan
0700  Germany     GDP Flash Q4
1000  Euro Zone      GDP Flash Estimate Q4
1330  U.S.          Initial Jobless claims w/e Feb. 9
1330  U.S.          PPI Final Demand Jan
1330  U.S.          Retail Sales Dec
1500  U.S.          Business Inventories Nov
Bank of England policymaker Jan Vlieghe to deliver a speech on
the outlook for the economy in Britain and globally
* No precise release time    
       
    PRICES    
 BASE METALS PRICES                      0115 GMT
 Three month LME copper                    6142.5
 Most active ShFE copper                    48310
 Three month LME aluminium                 1859.5
 Most active ShFE aluminium                 13385
 Three month LME zinc                        2608
 Most active ShFE zinc                      21460
 Three month LME lead                      2022.5
 Most active ShFE lead                      16730
 Three month LME nickel                     12395
 Most active ShFE nickel                    98610
 Three month LME tin                        21075
 Most active ShFE tin                      148900
                                                 
 BASE METALS ARBITRAGE                           
 LME/SHFE COPPER             LMESHFCUc3     72.17
 LME/SHFE ALUMINIUM          LMESHFALc3  -1168.31
                                         
 LME/SHFE ZINC               LMESHFZNc3    200.73
 LME/SHFE LEAD               LMESHFPBc3    335.68
 LME/SHFE NICKEL             LMESHFNIc3   3583.57
                                         
 
($1 = 6.7598 Chinese yuan)

    
 (Reporting by Tom Daly, Editing by Sherry Jacob-Phillips)
  
 
 
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