June 11, 2018 / 2:11 AM / a year ago

METALS-Base metal prices mixed after G7 trade tensions

    BEIJING, June 11 (Reuters) - Base metal prices were mixed in
early trade on Monday as positive sentiment over strong import
data in China, the world's biggest metals consumer, was tempered
by renewed fears of a trade war amid a lack of consensus at the
G7 summit in Canada.
    China's copper imports in May reached their highest monthly
total since December 2016, according to customs data released on
    * SHFE COPPER: The most-traded August copper contract on the
Shanghai Futures Exchange was trading higher for a
seventh straight day and was up 0.2 percent at 54,240 yuan 
($8,467.33) a tonne at 0150 GMT.
    * LME COPPER: Three-month copper on the London Metal
Exchange edged down 0.3 percent to $7,287 a tonne,
extending a 0.3-percent drop from Friday after hitting a
4-1/2-year high on Thursday on Chile supply fears.
    * ESCONDIDA: The union at BHP's Escondida
copper mine in Chile said on Friday that it saw a "favourable
scenario" for reaching a deal on a new labour contract with the
company, citing higher copper prices.
    * TARIFFS: Europe will implement counter-measures against
U.S. tariffs on steel and aluminium just like Canada, German
Chancellor Angela Merkel said on Sunday, voicing regret about
President Donald Trump's abrupt decision to withdraw support for
a G7 communique.
    * RUSAL: Rusal's exports and finances will take another hit
if Russian tycoon Oleg Deripaska is unable to persuade
Washington to lift sanctions on the aluminium producer by late
August, three industry sources said.
    * ALUMINIUM: The most traded August aluminium contract on
the ShFE slipped 0.3 percent to 14,905 yuan a tonne.
Aluminium in London, however, was up 0.4 percent.
    * For the top stories in metals and other news, click       
    * Asian stocks moved gingerly on Monday as a weekend G7
summit fanned trade conflict fears after U.S. President Donald
Trump backed out of a joint communique in a blow to the group's
efforts to show a united front.            
 BASE METALS PRICES                        0151 GMT
 Three month LME copper                      7281.5
 Most active ShFE copper                      54190
 Three month LME aluminium                     2310
 Most active ShFE aluminium                   14910
 Three month LME zinc                          3192
 Most active ShFE zinc                        24400
 Three month LME lead                          2484
 Most active ShFE lead                        20495
 Three month LME nickel                       15455
 Most active ShFE nickel                     116030
 Three month LME tin                          21085
 Most active ShFE tin                        152270
 BASE METALS ARBITRAGE                             
 LME/SHFE COPPER              LMESHFCUc3    -177.92
 LME/SHFE ALUMINIUM           LMESHFALc3   -2350.46
 LME/SHFE ZINC                LMESHFZNc3     126.92
 LME/SHFE LEAD                LMESHFPBc3     617.62
 LME/SHFE NICKEL              LMESHFNIc3   -1325.51
 ($1 = 6.4058 Chinese yuan renminbi)

 (Reporting by Tom Daly)
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