SINGAPORE, Oct 15 (Reuters) - Nickel prices in Shanghai fell on Tuesday, tracking a sharp decline in London from the previous session, although both markets have bounced off their lows due to tight stockpiles.
The most-traded nickel contract on the Shanghai Futures Exchange (ShFE) fell as much as 3.6% to 132,770 yuan ($18,787) a tonne, before edging back up. At 0227 GMT, Shanghai was down 2.9% from its previous close.
Three-month nickel on the London Metal Exchange (LME) jumped as much as 4.4% to $17,285 a tonne, not nearly enough to fully reverse losses of 5.7% in the previous session.
* SPREAD: LME cash nickel’s premium over the three month contract MNI0-3 dipped slightly on Monday to $135 a tonne but still stayed in the premium zone where it has been since the middle of August, indicating tight prompt supplies.
* STOCKS: Nickel stocks in LME-approved warehouses MNISTX-TOTAL fell to 94,134 tonnes, the lowest since January 2012, the latest data showed.
* PRICES: LME copper fell 0.1%, aluminium rose 0.1%, lead rose 0.5% and tin edged down 0.1%. In Shanghai, copper and aluminium eased 0.1% each, and zinc fell 0.3%.
* CODELCO: Chile’s Codelco, the world’s largest copper producer, said on Monday it is evaluating the closure of its Ventanas copper smelter in a polluted coastal region.
* NYRSTAR: Nyrstar’s Langlois mine in Canada will cease production in December due to rock conditions having deteriorated to an extent to which the company considers it uneconomic, the company said in a release on Monday.
* LITHIUM: London-listed Bacanora Lithium plans to raise $300 million in capital early next year and says a deal with China’s Ganfeng Lithium Co Ltd puts it in a better position to raise the money than when it cancelled a smaller share sale last year.
* COLUMN: Trump’s non-deal deal with China is mainly significant for sentiment: Russell
* For the top stories in metals and other news, click or
* Asian stocks and Wall Street futures inched higher as some investors held out hope that Britain still had a chance to avoid a messy exit from the European Union at key negotiations this week.
0400 Indonesia Trade Balance Sept
0645 France CPI (EU Norm) Final MM, YY Sept
0830 UK Claimant Count Unemployment Change Sept
0830 UK ILO Unemployment Rate Aug
0830 UK Bank of England publishes record of October
Financial Policy Committee meeting
0900 Germany ZEW Economic Sentiment Oct
0900 Germany ZEW Current Conditions Oct
1800 EU Reserve Assets Total Sept
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
$1 = 7.0671 yuan Reporting by Mai Nguyen; Editing by Tom Hogue