November 14, 2017 / 8:24 AM / a year ago

METALS-Shanghai nickel retreats on lacklustre China data

(Updates prices, adds details)

By James Regan

SYDNEY, Nov 14 (Reuters) - Chinese nickel futures on Tuesday pulled back, after leading most metals higher earlier in the session, following data from China which pointed to moderating growth over the next few quarters.

The contract closed mostly flat, after interest spurred by hefty overnight gains in the London market petered out on data showing China’s economy lost steam in October.

* SHFE NICKEL: The most-traded nickel contract on the Shanghai Futures Exchange ended up 0.1 percent at 99,610 yuan ($15,000.38) a tonne after rocketing more than 2 percent at the open.

* LME NICKEL: Three-month nickel on the London Metal Exchange, however, eased 1.3 percent to $12,330 a tonne, as of 0806 GMT, after surging 3 percent overnight. Nickel has gained 23 percent this year, driven by hopes that growth in electric vehicles will boost demand for the metal in batteries. Nickel is mainly used to produce stainless steel.

* CHINA COOLS: Economy in China, the top metals consumer, cooled further last month, with industrial output, fixed asset investment and retail sales missing expectations as the government extended a crackdown on debt risks and factory pollution.

* CHINA ALUMINIUM CRACKS: China’s winter heating season has arrived and the aluminium market is still struggling to work out what impact it will have on the country’s production.

* RUSAL UP: Russian aluminium giant Rusal beat forecasts with a 30 percent jump in third-quarter core earnings on Monday, helped by higher aluminium prices and rising sales of value added products.

* ALUMINIUM GUIDELINES: Japan’s aluminium industry may consider crafting sector-wide quality assurance guidelines if it gets requests from member companies in the wake of the data fabrication scandal that has engulfed Japan’s Kobe Steel Ltd . * MORE MINE BUYS: Central Asia Metals, which has just bought a lead and zinc mine in Macedonia, would consider further purchases but not for six months. * LME COPPER: Three-month copper rose 1.6 percent overnight before retreating to $6,868 a tonne on Tuesday. * SHANGHAI COPPER: The active ShFE copper contract finished 0.93 percent firmer.


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 = 6.6405 Chinese yuan)

Reporting by James Regan; Editing by Richard Pullin and Sherry Jacob-Phillips

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