December 21, 2018 / 1:55 AM / a month ago

METALS-LME copper edges higher, heads for fourth straight weekly loss

    BEIJING, Dec 21 (Reuters) - Copper prices edged higher in
London and Shanghai in early trade on Friday, after a report
from an industry study group showed a widening supply deficit. 
    The metal is still on course to shed 1.8 percent in London
this week for a fourth straight weekly loss. It is down 17
percent so far in 2018, heading for its worst year since 2015 on
fears the U.S.-China trade row will hurt demand.
        
    FUNDAMENTALS
    * LME COPPER: Three-month copper on the London Metal
Exchange rose by 0.3 percent a tonne to $6,020 a tonne
as of 0142 GMT, reversing Thursday's 0.3 percent dip. 
    * SHFE COPPER: The most-traded February copper contract on
the Shanghai Futures Exchange nudged up 0.2 percent to
48,250 yuan ($7,009.72) a tonne.
    * COPPER: The global world refined copper market showed a
168,000 tonnes deficit in September, compared with a 43,000
tonnes deficit in August, the International Copper Study Group
(ICSG) said in its latest monthly bulletin.
    * CONTRACTS: Chilean state miner Codelco has agreed to sell
France's Nexans, China's Minmetals and U.S.-based
Southwire 50,000 to 100,000 tonnes of copper each from 2019 to
2021 in rolling deals known as "evergreens", sources close to
the matter said.
    * OTHER METALS: Most other base metals made modest gains in
quiet pre-holiday trade, with nickel adding 0.5 percent in
London and Shanghai.   
    * ALUMINIUM: Representatives from China's biggest aluminium
producers will hold a meeting on Friday in the southern region
of Guangxi to discuss slumping demand and falling prices, said
three sources familiar with the matter.
    * COLUMN: The year that politics broke the metals cycle:
Andy Home
    * For the top stories in metals and other news, click       
 or     
        
    MARKETS NEWS    
    * Global stocks were sailing into Christmas on a sea of red
on Friday as the threat of a U.S. government shutdown and of
further hikes in U.S. borrowing costs inflamed investor unease
over the economic outlook.    
        
    
    PRICES        
 BASE METALS PRICES                        0142 GMT
 Three month LME copper                        6020
 Most active ShFE copper                      48260
 Three month LME aluminium                   1917.5
 Most active ShFE aluminium                   13645
 Three month LME zinc                          2541
 Most active ShFE zinc                        21070
 Three month LME lead                        1973.5
 Most active ShFE lead                        18130
 Three month LME nickel                       10960
 Most active ShFE nickel                      90230
 Three month LME tin                              0
 Most active ShFE tin                        146800
                                                   
 BASE METALS ARBITRAGE                             
 LME/SHFE COPPER              LMESHFCUc3     182.07
 LME/SHFE ALUMINIUM           LMESHFALc3   -1572.96
 LME/SHFE ZINC                LMESHFZNc3     272.84
 LME/SHFE LEAD                LMESHFPBc3     1549.9
 LME/SHFE NICKEL              LMESHFNIc3    1688.57
 

($1 = 6.8833 Chinese yuan)

    
 (Reporting by Tom Daly; Editing by Rashmi Aich)
  
 
 
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