January 15, 2019 / 1:44 AM / 9 months ago

METALS-Shanghai copper, aluminium edge down after weak Chinese trade data

HANOI, Jan 15 (Reuters) - Shanghai copper and aluminium inched down on Tuesday after weak Chinese trade data disappointed investors, although metals traded in London drew some support from U.S. President Donald Trump's comments on reaching a trade deal with China.

Trump on Monday predicted Washington would reach a deal with China to end a tit-for-tat trade war, saying Beijing wants to negotiate and that talks are going well.

FUNDAMENTALS

* The most-traded Shanghai copper contract had fallen 0.4 percent to 46,850 yuan ($6,923.51) a tonne by 0119 GMT, on track for its third consecutive decline. Shanghai aluminium dropped as far as its lowest since September 2016 at 13,230 yuan a tonne.

* Three-month copper on the London Metal Exchange rose 0.4 percent to $5,920 a tonne, reversing losses from the previous session, while London aluminium edged up 0.1 percent to $1,830.5 a tonne.

* The U.S. Senate will begin voting on Tuesday on a resolution criticising the Trump administration's decision to ease sanctions on companies linked to Russian oligarch Oleg Deripaska, including aluminium giant Rusal.

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

MARKETS NEWS

* Asian shares were on the back foot as an unexpected drop in China's exports heightened worries about the global economy, while the British pound braced for a showdown in parliament over the government's Brexit plan.

DATA/EVENTS (GMT)

0745 France CPI Dec

0800 Germany Full Year GDP 2018

1100 Brazil Retail Sales Nov

1330 US NY Fed Manufacturing Jan

1330 US PPI Final Demand Dec

1330 US PPI exFood/Energy Dec

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 = 6.7450 Chinese yuan renminbi)

Reporting by Mai Nguyen; Editing by Joseph Radford

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