September 11, 2019 / 2:30 AM / 4 months ago

METALS-London copper slips on firmer dollar, China slowdown fears

    BEIJING, Sept 11 (Reuters) - London copper prices dipped in
early Asian trade on Wednesday, as the entire base metals
complex was pulled down by a stronger dollar and lingering
concerns over a slowdown in top consumer China.
    A stronger greenback makes dollar-denominated metals more
expensive for holders of other currencies.
    * COPPER: Three-month copper on the London Metal Exchange
 was down 0.5% to $5,798 a tonne, as of 0215 GMT, after
ending 0.2% higher in the previous session. The most-traded
November copper contract on the Shanghai Futures Exchange
 slipped 0.3% to 47,230 yuan ($6,635.10) a tonne.
    * COPPER: Refined copper cathode production by major Chinese
smelters fell by 0.5% in August from a month earlier, according
to a survey of producers by research house Antaike.
    * CHINA: China's factory-gate prices shrank at the sharpest
pace in three years in August, falling deeper into deflationary
territory and reinforcing the urgency for Beijing to step up
economic stimulus as the trade war with the United States
    * PERU: An indefinite strike by mining unions in Peru that
started on Tuesday has failed to draw large numbers of workers
and has not affected output at mines in the world's No.2 copper,
zinc, and silver producer, an industry association said.
    * OTHER METALS: LME lead fell the furthest, shedding
0.9% to $2,081.50 a tonne, while tin lost 0.7% and
nickel slipped 0.5%.     
    * NICKEL: The Asian Nickel conference kicks off in Jakarta
on Wednesday, just days after Indonesia confirmed it would
expedite a ban on nickel ore exports to the start of 2020. 
    * ALUMINIUM: Norsk Hydro, one of the world's
largest aluminium producers, said it would close some production
in Germany and could lay off more than 700 workers in a bid to
increase profitability at its rolled products business. 

    * COLUMN: China's tin production cuts halt price slide...for
now: Andy Home
    * For the top stories in metals and other news, click       
    * Asian stock markets held firm and bond yields rose on
1200   Brazil  Retail Sales YY            July
1230   US      PPI Final Demand YY, MM    Aug
1230   US      PPI exFood/Energy YY, MM   Aug
1400   US      Wholesale Invt(Y) R MM     July
 BASE METALS PRICES                        0215 GMT
 Three month LME copper                        5798
 Most active ShFE copper                      47220
 Three month LME aluminium                     1816
 Most active ShFE aluminium                   14385
 Three month LME zinc                        2336.5
 Most active ShFE zinc                        19100
 Three month LME lead                        2081.5
 Most active ShFE lead                        17330
 Three month LME nickel                       17950
 Most active ShFE nickel                     143060
 Three month LME tin                          17300
 Most active ShFE tin                        139820
 BASE METALS ARBITRAGE                             
 LME/SHFE COPPER              LMESHFCUc3     599.33
 LME/SHFE ALUMINIUM           LMESHFALc3    -239.24
 LME/SHFE ZINC                LMESHFZNc3      83.04
 LME/SHFE LEAD                LMESHFPBc3    -193.19
 LME/SHFE NICKEL              LMESHFNIc3   -3940.66
    ($1 = 7.1182 Chinese yuan)

 (Reporting by Tom Daly, Editing by Sherry Jacob-Phillips)
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