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METALS-Copper turns higher as Asian equities soar on French vote
2017年4月25日 / 早上7点26分 / 5 个月前

METALS-Copper turns higher as Asian equities soar on French vote

(Updates prices, adds quotes)

By James Regan

SYDNEY, April 25 (Reuters) - Copper reversed early losses in Asia on Tuesday to trade higher on the back of strong regional equities markets that broadened investor appeal for cyclical assets such as industrial commodities.

“All regional equity markets are higher as is oil and the base metals complex as yesterday’s broader ‘risk on’ theme is maintained,” commodities broker Marex Spectron said in a note.

Asian equities coasted to a near two-year high, buoyed by a jump in risk appetite following the centrist victory in the first round of the French presidential election.

“Asian markets appear to be still lingering in the glow of relief after the French election,” said Jingyi Pan, market strategist at IG in Singapore. “The jubilance in markets overnight has also added to the optimism.”

* COPPER: Three-month copper on the London Metal Exchange gained percent to $5,680 a tonne by 0715 GMT.

* SHANGHAI: The most-traded copper contract on the Shanghai Futures Exchange settled 0.04 percent higher at 46,030 yuan ($6,687)a tonne.

* ANGLO AMERICAN: Mining company Anglo American reported a 9 percent rise in overall production for the first quarter of 2017 compared with 2016, but copper output fell 3 percent because of poorer grades and a temporary suspension at the El Soldado mine in Chile.

* PERU STRIKE: Workers at mining company Southern Copper Corp in Peru have reached a deal with management to end a two-week strike, a union official and a company spokesman told Reuters on Monday.

* OTHER ShFE METALS: Tin ended 0.14 percent lower at 137,610 yuan, while lead finished 0.22 percent higher at 15,945 yuan. ShFE zinc gained 0.19 percent to 21,55 yuan. ShFE aluminium ended 0.77 percent up at 14,375 yuan a tonne.

* LME DELAY: The launch of the London Metal Exchange’s new precious metals contracts will be delayed until July 10, more than a month later than previously announced, it said on Monday.

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 = 6.8835 Chinese yuan)

Reporting by James Regan; Editing by Richard Pullin and Amrutha Gayathri

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