By Mai Nguyen
SINGAPORE, April 17 Industrial metals in London
climbed on Wednesday after China released data that showed its
economy grew at a steady pace in the first quarter.
China's economy grew at a 6.4 percent pace in the first
quarter from a year earlier, defying expectations for a further
slowdown, as industrial production jumped sharply and consumer
demand showed signs of improvement.
Three-month copper on the London Metal Exchange was
up 0.6 percent at $6,536 a tonne, as of 0739 GMT, having
retreated slightly from an over two-week high of $6,545 hit
earlier in the session. Shanghai copper edged up 0.2
China's Wednesday data also showed a pick-up in fixed-asset
investment, which could support copper prices, while supply
could be tight this year due to a global delay in copper mines
expansion, said Victor You, an analyst at CLSA in Hong Kong.
Fixed-asset investment expanded 6.3 percent in
January-to-March from a year earlier, in line with estimates and
picking up from the previous period.
* ALUMINIUM: Shanghai aluminium climbed to as high
as 13,995 yuan ($2,092.59) a tonne, its highest intra-day level
since Dec. 3, 2018, after China's National Bureau of Statistics
(NBS) released data showing daily aluminium output in March fell
3.6 percent from January and February.
The world's top aluminium-producing country churned out 2.88
million tonnes of primary metal in March, which works out at
around 92,900 tonnes per day, its lowest rate since October,
according to Reuters calculations.
But You said many people do not look at the NBS aluminium
data due to its inconsistency with other estimates by the
* ZINC: Shanghai zinc slipped to as low as 21,715
yuan a tonne, its lowest in three weeks, tracking a fall in
London zinc in the previous session after big zinc stocks flowed
into the London Metal Exchange (LME) warehouses.
The zinc contract in Shanghai ended down 2 percent at 21,785
yuan a tonne, while the benchmark zinc in London
rebounded 0.4 percent.
* AUSTRALIA RAILWAY: A railway that carries zinc from major
producers such as Glencore , MMG Ltd and South
32 across Australia's Outback is expected to reopen
this month after it was damaged in floods.
* For the top stories in metals and other news, click
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 = 6.6879 Chinese yuan)
(Reporting by Mai Nguyen, Editing by Sherry Jacob-Phillips and
SINGAPORE, April 16 Nickel prices rose on
Tuesday, as a faster rise in housing prices added to hopes that
China's stimulus policies are translating into stronger growth.
By Mai Nguyen
SINGAPORE, April 15 Copper prices advanced on
Monday, after data from China showed higher unwrought copper
imports in March, while declining inventories, concerns over a
supply deficit and hopes of a resolution to the U.S.-China trade
row also lent support.
Three-month copper on the London Metal Exchange rose
0.1 percent to $6,487 a tonne by 0747 GMT, while the most-traded
June copper contract on the Shanghai Futures Exchange
ended up 0.4 percent at 49,400 yuan ($7,367.86) a tonne.
China imported 391,000 tonnes of unwrought copper last
month, up 25.7 percent from the previous month and 26.5 percent
higher than a year earlier, data released on Friday showed.
China's March copper concentrate imports were also higher
than the year-ago levels, at 1.77 million tonnes, but down from
an unusually strong February.
"This squashed any concerns over soft demand post the
Chinese New Year holiday. Sentiment was further boosted by
strong credit and monetary data," ANZ said in a note.
* LAS BAMBAS: Chinese miner MMG Ltd said that Las
Bambas mine in Peru has progressively restored critical supplies
and increased staffing levels over last week after indigenous
communities ended a more than two-month blockade of a key
* STOCKS: Copper stocks in LME-approved warehouses fell for
a third straight day, by 2,000 tonnes to 192,425 tonnes,
according to exchange data released on Friday, while copper
inventories in warehouses tracked by the ShFE fell 5 percent
from a week ago to 245,178 tonnes.
* TRADE: U.S. Treasury Secretary Steven Mnuchin said on
Saturday a U.S.-China trade agreement would go "way beyond"
previous efforts to open China's markets to U.S. companies and
hoped that the two sides were "close to the final round" of
* ARIZONA: Rio Tinto Ltd said it would invest an
extra $302 million to develop its Resolution copper project in
the U.S. state of Arizona, as it looks to expands output to meet
the lucrative market for new energy vehicles.
* ANTO: Copper will face more disruptions this year than in
2018, as labour strife, extreme weather and unexpected project
delays will knock as much as a million tonnes off 2019
production, Chilean miner Antofagasta's chief executive
* TRAFI/NYRSTAR: Swiss-based global commodities trader
Trafigura is set to take control of Belgian metals producer
Nyrstar after agreeing a financial restructuring with
* CHINA ECONOMY: China's first-quarter economy growth likely
cooled to the weakest pace in at least 27 years, a Reuters poll
showed, but a flurry of measures to boost domestic demand may
have put a floor under slowing activity in March.
* For the top stories in metals and other news, click
BASE METALS PRICES 0446 GMT
Three month LME copper 6500.5
Most active ShFE copper 49550
Three month LME aluminium 1864
Most active ShFE aluminium 13880
Three month LME zinc 2914.5
Most active ShFE zinc 22515
Three month LME lead 1934
Most active ShFE lead 16385
Three month LME nickel 13000
Most active ShFE nickel 101250
Three month LME tin 20775
Most active ShFE tin 147990
BASE METALS ARBITRAGE
LME/SHFE COPPER LMESHFCUc3 299.69
LME/SHFE ALUMINIUM LMESHFALc3 -243.78
LME/SHFE ZINC LMESHFZNc3 -11.95
LME/SHFE LEAD LMESHFPBc3 1294.57
LME/SHFE NICKEL LMESHFNIc3 5023.51
($1 = 6.7048 Chinese yuan)
(Reporting by Mai Nguyen; additional reporting by Tom Daly in
BEIJING; Editing by Subhranshu Sahu)
SINGAPORE, April 12 London copper rose on Friday
on a weaker U.S. dollar, while nickel contracts in both London
and Shanghai dropped despite analysts' warnings of supply
SINGAPORE, April 11 London copper fell on
Thursday, with rising supply and risks of a global slowdown that
could hurt metal demand outweighing progress in trade talks
between the United States and China, the world's top copper
SINGAPORE, April 10 London copper was almost
unchanged on Wednesday, as prices were capped as the
International Monetary Fund (IMF) cut its global growth forecast
and the trade tension between the United States and Europe seem
to be growing.
SINGAPORE, April 9 Zinc prices declined on
Tuesday as investors were cautious about a possible surge in
refined zinc supply as smelters raised production amid
attractive margins, while other metals climbed as the U.S.
SINGAPORE, April 5 Most London base metals
advanced on Friday on hopes that the United States and China
could soon strike a trade deal, while copper fell due to
pressure from rising supply.
SINGAPORE, April 3 Industrial metals rose on
Wednesday, after a senior U.S. official expressed optimism about
progress in the scheduled trade talks with China this week,
while positive economic data from China, the world's biggest
copper user, also lent support.
* U.S. dollar hovers around 3-week high
(Updates prices, recasts throughout)