January 18, 2019 / 1:54 AM / 6 months ago

METALS-London copper rises for 4th day, touches 2019 high

    BEIJING, Jan 18 (Reuters) - London copper prices rose for a
fourth straight session early on Friday, hitting their highest
level so far this year, on signs the United States and top
metals consumer China are closer to resolving their long-running
trade dispute.
    Copper is on course to add 1.2 percent this week to mark its
biggest weekly gains since the week ended Nov. 16.
    * LME COPPER: Three-month copper on the London Metal
Exchange rose as much as 0.4 percent to $6,015, the most
since Dec. 31, and stood at $6,011 as of 0138 GMT.
    * SHFE COPPER: The most-traded March copper contract on the
Shanghai Futures Exchange climbed 0.7 percent to 47,690
yuan ($7,040.67) a tonne, heading for its best week since
    * TRADE: Trade officials from the United States and China
are in discussions to reopen China's market to U.S. chicken
exports, the Wall Street Journal reported on Thursday, citing
people familiar with the discussions.
    * COPPER: Chile's Cochilco state copper commission on
Thursday maintained its average price prediction of $3.05 per
pound for 2019, rising to $3.08 for 2020, amid the continuing
U.S.-China trade war and further potential volatility because of
    * ZINC: Shanghai zinc was the top performer, rising
as much as 2.5 percent to 21,380 yuan a tonne, the most since
Oct. 25. The metal, used to galvanise steel, is set to gain
around 5 percent this week for its best week since November. 
    * RUSAL: The U.S. House of Representatives backed
legislation on Thursday to keep sanctions on companies linked to
Russian oligarch Oleg Deripaska, including aluminium firm Rusal
, but the Trump administration is expected to lift them
as soon as Friday.
    * ALUMINIUM:  Aluminium stocks held at three major Japanese
ports AL-STK-JPPRT had risen 7.2 percent to 316,800 tonnes by
the end of December from the previous month, trading house
Marubeni Corp said on Friday.
    * LME: The London Metal Exchange will launch seven new
cash-settled futures contracts on March 11, including hot-rolled
coil (HRC) steel and alumina, it said on Thursday.
    * For the top stories in metals and other news, click       
    * Asian stocks gained early on Friday, as hopes for a thaw
in the U.S.-China trade conflict fed investor appetites for risk
 BASE METALS PRICES                      0135 GMT
 Three month LME copper                      6012
 Most active ShFE copper                    47690
 Three month LME aluminium                   1852
 Most active ShFE aluminium                 13395
 Three month LME zinc                      2539.5
 Most active ShFE zinc                      21280
 Three month LME lead                        1970
 Most active ShFE lead                      17660
 Three month LME nickel                     11610
 Most active ShFE nickel                    93590
 Three month LME tin                            0
 Most active ShFE tin                      148190
 BASE METALS ARBITRAGE                           
 LME/SHFE COPPER             LMESHFCUc3    356.86
 LME/SHFE ALUMINIUM          LMESHFALc3  -1162.78
 LME/SHFE ZINC               LMESHFZNc3    690.93
 LME/SHFE LEAD               LMESHFPBc3   1381.17
 LME/SHFE NICKEL             LMESHFNIc3   2012.74

($1 = 6.7735 Chinese yuan renminbi)

 (Reporting by Tom Daly; Edited by Shreejay Sinha)
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