September 6, 2018 / 1:26 AM / a month ago

METALS-Copper rises for 2nd day as dollar weakens, trade dispute caps gains

SINGAPORE, Sept 6 (Reuters) - LME copper rose for a second straight session on Thursday as a weaker dollar underpinned prices, although a trade war between the United States and top metals consumer China limited gains.

The dollar sagged, pressured by the pound which rose after fears of Britain leaving the European Union with no comprehensive agreement faded.

FUNDAMENTALS

* Three-month copper on the London Metal Exchange added 0.5 percent to $5,899 a tonne by 0112 GMT and the most-traded copper contract on the Shanghai Futures Exchange rose 0.8 percent to 47,660 yuan a tonne.

* U.S. President Donald Trump said on Wednesday that the United States was not yet ready to come to an agreement over trade disputes with China but he said talks would continue.

* The world’s two largest economies have slapped tariffs on $50 billion of each other’s goods in a tit-for-tat trade war, and Trump is considering imposing tariffs on another $200 billion in Chinese imports.

* Global miner BHP has struck a deal to pay $35 million for a 6.1 percent stake in SolGold, giving it a share in the promising Cascabel copper-gold project in Ecuador after an earlier attempt failed.

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

MARKETS NEWS

* Global equities remained under pressure with stocks in Asia down for the sixth straight day on Thursday amid fragile investor confidence in the wake of turmoil in emerging markets and anxiety about a major escalation in the U.S.-China trade conflict.

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

Reporting by Naveen Thukral; Editing by Subhranshu Sahu

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