METALS-Copper market struggles amid U.S.-China commerce tensions

SINGAPORE, Nov 23 (Reuters) – London copper was little modified on Friday after closing marginally larger within the final session with costs capped by commerce tensions between Washington and Beijing.

China rejected contemporary U.S. accusations of perpetuating “unfair” commerce practices and urged Washington on Thursday to cease making provocations, displaying little signal of backing down days forward a high-stakes assembly between leaders from each nations.


* Three-month copper on the London Metallic Trade unchanged at $6,255 a tonne 0135 GMT and the most-traded copper contract on the Shanghai Futures Trade rose 0.5 p.c to 49,760 yuan ($7,177.68) a tonne.

* Indonesia’s surroundings ministry goals to resolve inside two weeks environmental points which have been holding up the state’s plans to accumulate a majority stake in Freeport McMoRan Inc’s Grasberg copper mine.

* LME zinc rose for a 3rd consecutive session, underpinned by tightening provides. Three-month zinc on LME added 0.5 p.c to $2,594 a tonne and costs in Shanghai rose 0.7 p.c to 21,240 yuan a tonne.

* At 123,500 tonnes, LME shares have roughly halved since mid-August. MZNSTX-TOTAL

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* Asian shares barely budged in early Friday commerce as traders had been reluctant to make any massive bets within the face of commerce tensions, indicators of slowing earnings and Brexit negotiations.

DATA/EVENTS 0700 Germany Detailed GDP Q3 0815 France Markit manufacturing PMI Nov 0830 Germany Markit manufacturing PMI Nov 0900 Euro zone Markit manufacturing PMI Nov 1445 U.S. Markit manufacturing PMI Nov


Three month LME copper

Most lively ShFE copper

Three month LME aluminium

Most lively ShFE aluminium

Three month LME zinc

Most lively ShFE zinc

Three month LME lead

Most lively ShFE lead

Three month LME nickel

Most lively ShFE nickel

Three month LME tin

Most lively ShFE tin

ARBS ($1 = 6.9326 Chinese language yuan)

Reporting by Naveen Thukral; Modifying by Amrutha Gayathri

Author: Maxwell C.

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