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4 个月前
METALS-London copper treads water with China on holiday
2017年4月4日 / 凌晨2点42分 / 4 个月前

METALS-London copper treads water with China on holiday

3 分钟阅读

MELBOURNE, April 4 (Reuters) - London copper was little changed at one-week lows on Tuesday as Chinese markets were out on holiday for a second day, draining the market of liquidity and direction.

Fundamentals

* LME COPPER: London Metal Exchange copper was trading flat at $5,752 a tonne by 0206 GMT, after 1.5-percent losses the previous session. Prices earlier slipped to their lowest since March 27 at $5,747.50, having on Monday broken below their 100-day moving average at $5,785.

* SHFE COPPER: The Shanghai Futures Exchange was closed for a public holiday.

* US MANUFACTURING: a measure of U.S. manufacturing activity retreated from a 2-1/2-year high in March amid a decline in production and an inventory drawdown, but a surge in factory jobs indicated that the sector's energy-led recovery was gaining momentum.

* GLOBAL FACTORIES: Factories across Europe and much of Asia posted another month of solid growth in March, rounding off a strong quarter for manufacturers, even though exporters fear a rise in U.S. protectionism could snuff out a global trade recovery.

* SUMITOMO METAL: Sumitomo Metal Mining Co Ltd, Japan's second-largest copper smelter, plans to increase its refined copper output in the financial year that started on Sunday by 1.1 percent from a year earlier.

* CESCO: Chile's Caserones copper mine, which has suffered a series of technical problems in its ramp-up stage that have continually pushed back its start completion date, should be fully functioning by mid-year, a senior mine executive said Monday.

* For the top stories in metals and other news, click or

Markets News

* Asian share markets were down in skittish early trade on Tuesday as investors held their breath ahead of a potentially tense meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping later this week.

Data/Events

0900 Euro zone Retail sales Feb

1230 U.S. International trade Feb

1345 U.S. ISM-New York index Mar

1400 U.S. Factory orders Feb

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

Reporting by Melanie Burton; Editing by Joseph Radford

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