April 24, 2019 / 1:49 AM / a year ago

METALS-Base metals pick up amid U.S.-China trade talk progress

SINGAPORE, April 24 (Reuters) - Most industrial metals on the London Metal Exchange rose on Wednesday, after a top White House economic adviser said the United States and China were making progress in trade talks.

National Economic Council Director Larry Kudlow on Tuesday said the United States and China have made "a heck lot of progress", but added that the two nations still had issues to address.

The White House later announced that U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will travel to Beijing for trade talks beginning on April 30.

Chinese Vice Premier Liu He, who will lead the Beijing talks for China, will travel to Washington for more discussions starting on May 8, the White House said in a statement.


* Three-month copper on the London Metal Exchange rose 0.2 percent to $6,419 a tonne by 0129 GMT, while aluminium advanced 0.5 percent, nickel increased 0.6 percent and lead was up 0.6 percent.

* Base metals on the Shanghai Futures Exchange fell, led by nickel and zinc which eased 1 percent each, following declines in London in the previous session. Copper and aluminium fell 0.2 percent each.

* The global world refined copper market showed an 8,000 tonne deficit in January, compared with an 11,000 tonne surplus in December, the International Copper Study Group (ICSG) said in its latest monthly bulletin.

* Global primary aluminium output rose to 5.414 million tonnes in March from a revised 4.916 million tonnes in February, data from the International Aluminium Institute (IAI) showed on Tuesday.

* The London Metal Exchange (LME) could ban or delist brands that are not responsibly sourced by 2022 under an initiative launched on Tuesday to help root out metal tainted by child labour or corruption.

* German carmaker BMW will buy cobalt, a key component for electric vehicle (EV) batteries, directly from mines in Australia and Morocco to ensure they are not produced by child labour, an executive said on Tuesday.

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


* Equity markets in Asia rose after upbeat earnings helped the Nasdaq and S&P 500 indexes reach record closing highs on Wall Street overnight, while oil retreated from its near six-month highs.


0130 Australia CPI QQ YY Q1

0130 Australia RBA Weightd Medn CPI QQ YY Q1

0130 Australia Trimmed Mean CPI QQ YY Q1

0645 France Business Climate Mfg April

0800 Germany Ifo Business Climate New April

Bank of Japan holds monetary policy meeting


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 Richard Pullin

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