December 27, 2018 / 2:12 AM / 8 months ago

METALS-LME copper rebounds from 3-mth low, but growth concerns cap gains

SINGAPORE, Dec 27 (Reuters) - London copper prices bounced back on Thursday, recovering from their lowest in more than three months on the back of a broad-based rally in financial and commodity markets, but gains were limited by global economic growth concerns.


* Three-month copper on the London Metal Exchange had climbed 1.4 percent to $6,040 a tonne by 0148 GMT, with the most-traded copper contract on the Shanghai Futures Exchange gaining 1 percent to 48,470 yuan ($7,035.96) a tonne.

* LME copper declined to $5,941 a tonne on Monday, its weakest since Sept. 18.

* Oil and equity markets jumped on Wednesday, driven by the Trump administration’s attempt to shore up investor confidence and a report on strong U.S. holiday spending.

* Russia’s Baikal Mining Company, operator of a large Udokan copper deposit, has agreed $1.25 billion of project financing from banks, Alisher Usmanov, who owns this company, told reporters in Moscow on Wednesday.

* A global nickel market deficit will nearly halve to 49,000 tonnes in 2019 from 93,000 tonnes this year on higher output of primary metals by global suppliers and of lower-grade nickel pig iron (NPI) in Indonesia, Sumitomo Metal Mining said on Tuesday.

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* Stocks and oil prices rebounded on Wednesday as the Trump administration attempted to shore up investor confidence and markets welcomed a report on strong U.S. holiday spending.


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 ($1 = 6.8889 Chinese yuan)

Reporting by Naveen Thukral Editing by Joseph Radford

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