October 19, 2017 / 1:56 AM / a year ago

METALS-Copper marks time ahead of China reports

    MELBOURNE, Oct 19 (Reuters) - London copper marked time on
Thursday amid prospects of better demand and ahead of a slew of
economic readings out of China that were expected to signal a
slowdown in economic growth.
    * LME COPPER: Three-month copper on the London Metal
Exchange was barely changed at $6,982 a tonne by 0136
GMT, having closed a tad softer in the previous session. A close
below the $7,000 watermark may trigger a technical
consolidation. LME copper hit a three-year top of $7,177 a tonne
on Monday.
    * SHFE COPPER: Shanghai Futures Exchange copper
slipped by 0.7 percent to 54,510 yuan ($8,228) a tonne.
    * CHINA ECONOMY: China is expected on Thursday to post a
modest slowdown in third-quarter economic growth from the
previous quarter as the government's efforts to rein in the
property market and debt risks weigh on activity in the world's
second-largest economy.
     Analysts polled by Reuters expect gross domestic product
(GDP) to have grown 6.8 percent in the July-September period,
cooling from the previous quarter's 6.9 percent expansion.

    * CHINA CONGRESS: Chinese President Xi Jinping on Wednesday
laid out a confident vision for a more prosperous nation and its
role in the world, stressing the importance of wiping out
corruption and curbing industrial overcapacity, income
inequality and pollution.
    * US ECONOMY: The U.S. economy expanded at a modest to
moderate pace in September through early October despite the
impact of hurricanes on some regions, the Federal Reserve said
in its latest snapshot of the U.S. economy released on
Wednesday, but there were still few signs of an acceleration in
    * EV DEMAND: In supportive news for nickel and copper,
China's electric vehicle (EV) production could touch 1 million
units next year and 3 million units by 2020, said Xu Heyi,
chairman of carmaker BAIC Group, on Wednesday, likely
exceeding a government-set target.
    * COPPER DEMAND: Chile state copper commission Cochilco
forecasted on Wednesday an average global copper price of $2.95
per pound in 2018, a sharp upward revision from its mid-year
estimate of $2.68, due to greater demand in China, a key market.

    * For the top stories in metals and other news, click       
    * Asian stocks inched up to near decade highs on Thursday,
continuing to ride on a global equities rally, while the dollar
resumed its rise on the back of a spike in U.S.
    0200  China GDP Q3
    0200  China Industrial output Sep
    0200  China Retail sales Sep
    0200  China Urban investment Sep
    0830  Britain Retail sales Sep
    1230  U.S. Weekly jobless claims
    1230  U.S. Philly Fed business index Oct
    1400  U.S. Leading index Sep    
 BASE METALS PRICES               0133 GMT            
 Three month LME copper                           6974
 Most active ShFE copper                         54550
 Three month LME aluminium                        2120
 Most active ShFE aluminium                      16050
 Three month LME zinc                             3110
 Most active ShFE zinc                           25275
 Three month LME lead                             2493
 Most active ShFE lead                           19350
 Three month LME nickel                          11605
 Most active ShFE nickel                         93270
 Three month LME tin                                 0
 Most active ShFE tin                           144840
 BASE METALS ARBITRAGE                                
 LME/SHFE COPPER              LMESHFCUc3        569.01
 LME/SHFE ALUMINIUM           LMESHFALc3       -284.96
 LME/SHFE ZINC                LMESHFZNc3         584.6
 LME/SHFE LEAD                LMESHFPBc3       -698.72
 LME/SHFE NICKEL              LMESHFNIc3       2518.57

($1 = 6.6246 Chinese yuan)

 (Reporting by Melanie Burton; Editing by Subhranshu Sahu)
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