April 5, 2019 / 1:58 AM / 5 months ago

METALS-London base metals rise as Trump comments fuel trade deal optimism

SINGAPORE, April 5 (Reuters) - London industrial metals rose on Friday, supported by news that the United States and China are edging closer to a trade deal after months of dispute.

U.S. President Donald Trump said on Thursday a trade deal with China could be reached in about four weeks, but he issued a warning to Beijing that, absent a pact, it would be difficult to allow trade to continue.

FUNDAMENTALS

* Three-month copper on the London Metal Exchange edged up 0.2 percent to $6,461 a tonne by 0129 GMT, while aluminium rose 0.53 percent and zinc was up 0.8 percent. Volume was low as China is closed for a public holiday.

* In Indonesia, a mudslide at Freeport-McMoran's Grasberg mine, the world's second-largest copper mine, injured two workers while two others were missing on Wednesday.

* Concerns over copper supply disruption increased as a Peruvian judge on Wednesday ordered jail time for lawyers representing indigenous villagers who have blockaded shipments from Las Bambas copper mine operated by Chinese miner MMG Ltd .

* The Shanghai Futures Exchange is closed on Friday for the Tomb Sweeping Day holiday and will reopen on Monday.

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

MARKETS NEWS

* The dollar rose to a three-week high versus the yen, lifted by expectations that a protracted trade dispute between the United States and China would be resolved soon.

DATA/EVENTS (GMT)

0600 Germany Industrial Output MM Feb

0730 UK Halifax House Prices MM March

1230 US Non-Farm Payrolls March

1230 US Unemployment Rate March

1230 US Average Earnings YY March

1230 France Reserve Assents Total March

1900 Federal Reserve issues Consumer Instalment

Credit for February

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

Reporting by Mai Nguyen; Editing by Subhranshu Sahu

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below