February 13, 2018 / 2:41 AM / 6 days ago

METALS-London copper prices rise for second day on weaker dollar

    BEIJING, Feb 13 (Reuters) - London copper prices climbed for
a second day on Tuesday on a weaker dollar and as global
equities bounced back from two-month lows seen last week. 
    
    FUNDAMENTALS
    * LME COPPER: Three-month copper on the London Metal
Exchange was up 1.1 percent at $6,905 a tonne at 0236
GMT, extending gains from the previous session, when it ended up
1.1 percent.
    * SHFE COPPER: The most-traded April copper contract on the
Shanghai Futures Exchange was up for the first time in
three days, climbing 1.5 percent to 52,120 yuan ($8,231.21) a
tonne.
    * U.S. DOLLAR: The dollar index edged down 0.1
percent. A weaker dollar makes metals cheaper for holders of
other currencies and can support prices.   
    * SHFE ALUMINIUM: The most traded March ShFE aluminium
contract was up 1.1 percent at 14,335 yuan a tonne,
having closed at its joint-lowest since January, 2017 on Monday.
    * ALUMINIUM: U.S. President Donald Trump will meet with a
bipartisan group of lawmakers on Tuesday to discuss trade
matters, as he ponders whether to takes steps to limit steel and
aluminium imports seen as damaging to U.S. businesses.
 
    * COPPER: Aurubis AG, Europe's biggest copper
smelter, is in advanced negotiations to sell its flat rolled
products unit to German cooper products company Wieland-Werke AG
as Aurubis looks to expand into other metals besides copper.

    * COBALT: Makers of electric vehicle batteries will have to
keep using scarce, expensive cobalt in their products for the
foreseeable future despite a push towards higher nickel
compositions, materials technology company Umicore said
on Monday.
    
    For the top stories in metals and other news, click       
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    MARKETS NEWS    
    *  Asian stocks pulled further away from two-month lows on
Tuesday, lifted by Wall Street's extended rebound from last
week's steep fall. 
       
        
    DATA AHEAD (GMT)
    0930  UK        Consumer prices Jan
    1100  U.S.     NFIB business optimism Jan
        
        
    PRICES
    
 BASE METALS PRICES                        0233 GMT
 Three month LME copper                      6904.5
 Most active ShFE copper                      52120
 Three month LME aluminium                     2143
 Most active ShFE aluminium                   14315
 Three month LME zinc                          3396
 Most active ShFE zinc                        26040
 Three month LME lead                        2511.5
 Most active ShFE lead                        18920
 Three month LME nickel                       13205
 Most active ShFE nickel                     100770
 Three month LME tin                          21190
 Most active ShFE tin                        146820
                                                   
 BASE METALS ARBITRAGE                             
 LME/SHFE COPPER              LMESHFCUc3    1210.66
 LME/SHFE ALUMINIUM           LMESHFALc3   -1374.15
                                          
 LME/SHFE ZINC                LMESHFZNc3     555.35
 LME/SHFE LEAD                LMESHFPBc3    -249.36
 LME/SHFE NICKEL              LMESHFNIc3    1574.65
                                          
 
    

($1 = 6.3320 Chinese yuan renminbi)

    
 (Reporting by Tom DalyEditing by Joseph Radford)
  
 
 
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