Oct 7 (Reuters) - Copper prices fell on Wednesday after U.S. President Donald Trump halted negotiations with the U.S. Congress on a large coronavirus stimulus bill.
“I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major Stimulus Bill,” Trump wrote on Twitter.
Copper is often used as a gauge of global economic health and a U.S. stimulus bill would have supported a recovery in the world’s biggest economy.
Three-month copper on the London Metal Exchange fell 1.1% to $6,458 a tonne by 0145 GMT, while nickel eased 0.3% to $14,480 a tonne, zinc dropped 1% to $2,338.50 a tonne and lead declined 0.3% to $1,775.50 a tonne.
* Tesla Inc is in talks with BHP Group about a nickel supply deal, Bloomberg News reported.
* LME cash aluminium was last at a discount of $25.50 a tonne over the three-month contract CMAL0-3, its smallest since July 2 as LME inventories MALSTX-TOTAL fell to their lowest since May 18 at 1.43 million tonnes.
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* Asian stocks were set to open lower, weighed down by a weaker Wall Street finish after U.S. President Donald Trump dashed hopes for a fourth stimulus package with a tweet.
0600 Germany Industrial Output MM Aug
0645 France Reserve Assets Total Sept
0730 UK Halifax House Prices MM Sept
1800 US Federal Open Market Committee will
release the minutes from its
September 15-16 policy meeting
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 (Reporting by Mai Nguyen; Editing by Vinay Dwivedi)
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