September 26, 2019 / 2:42 AM / 5 months ago

METALS-Copper flat in thin trade ahead of China holiday

    BEIJING, Sept 26 (Reuters) - Copper prices held steady on
Thursday in thin trade, as market participants refrained from
taking big positions ahead of a week-long holiday in top metals
consumer China.
    Traders also shrugged off U.S. President Donald Trump's
comment that a deal to end a nearly 15-month trade war with
China could happen sooner than people think.
    Chinese markets will be closed from Oct. 1 for the National
Day holidays.   
    * COPPER: Three-month copper on the London Metal Exchange
 was flat at $5,784.50 a tonne as of 0212 GMT, after
closing up 0.1% in the previous session. The most-traded
November copper contract on the Shanghai Futures Exchange
 edged up 0.2% to 47,160 yuan ($6,617.83) a tonne.
    * SHFE: Other ShFE metals also edged higher, with lead
 and nickel up 0.3%. Shanghai aluminium
 slipped as much as much as 0.5% to a six-week low of
14,080 yuan a tonne on weak demand in China.
    * NICKEL: LME nickel was the laggard, losing 0.7% to
$17,210 a tonne, even as China's refined nickel imports more
than doubled year-on-year in August and were up 35.3% from the
previous month. 
    * NICKEL: China's nickel ore imports from Indonesia rose
26.5% year-on-year, customs data showed, as stainless steel
producers stocked up on raw materials ahead of a ban on exports
from the Southeast Asian country.
    * RARE EARTHS: China's exports of rare earth magnets to the
United States in August rose to the highest level since at least
2016, pointing to further stockpiling as concerns linger that
Beijing could restrict supply.
    * BATTERIES: China's top lithium battery maker, Contemporary
Amperex Technology Co Ltd, said on Thursday it plans
to invest up to 10 billion yuan ($1.40 billion) in a battery
production base in Sichuan province.
    * For the top stories in metals and other news, click       
    * Asian stocks edged up as hopes the United States and China
may soon end their year-long trade war boosted demand for
riskier assets while worries about a U.S. presidential
impeachment bid ebbed.    
1230    US   GDP Final               Q2
1230    US   Initial Jobless Claims  Weekly        
 BASE METALS PRICES                       0213 GMT
 Three month LME copper                     5784.5
 Most active ShFE copper                     47160
 Three month LME aluminium                  1754.5
 Most active ShFE aluminium                  14085
 Three month LME zinc                         2290
 Most active ShFE zinc                       18635
 Three month LME lead                         2098
 Most active ShFE lead                       16870
 Three month LME nickel                      17210
 Most active ShFE nickel                    136720
 Three month LME tin                             0
 Most active ShFE tin                       136540
 BASE METALS ARBITRAGE                            
 LME/SHFE COPPER              LMESHFCUc3    561.75
 LME/SHFE ALUMINIUM           LMESHFALc3    -98.63
 LME/SHFE ZINC                LMESHFZNc3    -56.64
 LME/SHFE LEAD                LMESHFPBc3    -623.1
 LME/SHFE NICKEL              LMESHFNIc3  -4841.62
 ($1 = 7.1262 Chinese yuan)

 (Reporting by Tom Daly; 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