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Mai Nguyen

METALS-Copper prices advance on upbeat China data

17 Apr 2019

(Updates prices) 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 percent. 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. FUNDAMENTALS * 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 industry. * 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 or PRICES 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 = 6.6879 Chinese yuan) (Reporting by Mai Nguyen, Editing by Sherry Jacob-Phillips and Shreejay Sinha)

METALS-Nickel gains on China's home prices data, stocks rally

16 Apr 2019

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.

METALS-Copper edges up on China data, lower stockpiles

15 Apr 2019

(Updates prices) 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. FUNDAMENTALS * 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 highway. * 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 negotiations. * 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 said. * TRAFI/NYRSTAR: Swiss-based global commodities trader Trafigura is set to take control of Belgian metals producer Nyrstar after agreeing a financial restructuring with its creditors. * 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 or PRICES 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)

METALS-Copper rebounds on lower dollar; nickel drops

12 Apr 2019

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 shortages.

METALS-Copper falls as supply, growth concerns outweigh trade talks progress

11 Apr 2019

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 user.

METALS-Copper muted on U.S.-Europe trade tension, IMF forecast cut

10 Apr 2019

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.

METALS-Zinc slips on rising supply concerns; copper gains on weaker dollar

09 Apr 2019

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. dollar slumped.

METALS-Copper falls as supply increases, other metals rise on U.S.-China trade hopes

05 Apr 2019

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.

METALS-Base metals rise on U.S.-China trade talk progress, economic data

03 Apr 2019

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.

METALS-London copper down as dollar rises, Peru mine concerns ease

02 Apr 2019

* U.S. dollar hovers around 3-week high (Updates prices, recasts throughout)

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