October 1, 2018 / 7:46 AM / 2 years ago

METALS-London metal slips as week-long holiday kicks off in China

 (Adds detail, updates prices)
    MELBOURNE, Oct 1 (Reuters) - London metal prices eased on
Monday amid evidence that the Sino-U.S. trade dispute affected
China's manufacturing activity last month and as a week-long
holiday got underway in the country.
    Growth in China's manufacturing sector sputtered in
September as both external and domestic demand weakened, two
surveys showed on Sunday, raising the pressure on policymakers
as U.S. tariffs appear to be inflicting a heavier toll on the
Chinese economy.             
    Factory activity in Asia weakened in September, with many
trade-reliant economies seeing a slump in export orders in a
sign that escalating U.S.-China tensions are taking a toll on
business confidence.             
    * London Metal Exchange copper         was down 0.5 percent
at $6,227 a tonne, as of 0730 GMT, following a gain of 1.2
percent on Friday. Copper prices climbed 4.7 percent in
September, the largest monthly gain this year when prices have
dropped a total of nearly 14 percent. 
    * The Shanghai Futures Exchange is closed this week. 
    * China has cancelled a security meeting with U.S. Secretary
of Defense Jim Mattis that had been planned for October, a
senior U.S. official said on Sunday, days after a top Chinese
official said there was no reason to panic over tensions between
the countries.             
    * ZAMBIA: Zambia plans to trim its fiscal deficit to 6.5
percent of GDP in 2019 from 7.4 percent this year, its finance
minister on Friday. The African nation is a major copper
    * ZINC: LME zinc         slipped 1 percent to $2,586 after
prices surged 4.2 percent on Friday following a large draw in
China's exchange inventories < ZN-STX-SGH>.
    * ZINC: Operations at Trevali Mining Corp's                
Santander zinc mine in Peru have fully resumed after a road
blockade suspended delivery of supplies this week, the company
said on Friday.             
    * ALUMINA: Unionised workers at aluminium producer Alcoa's
       Western Australian operations on Friday agreed to end a
strike that lasted more than six weeks after securing better job
security provisions in a new wage agreement.             
    * For the top stories in metals and other news, click       
    * The Canadian dollar, the Mexican peso, U.S. stock futures
and many share markets gained on Monday after the United States
and Canada forged a last-gasp deal to salvage a trilateral trade
agreement in North America.                
    Three month LME copper                  
    Most active ShFE copper                  
    Three month LME aluminium               
    Most active ShFE aluminium               
    Three month LME zinc                    
    Most active ShFE zinc                    
    Three month LME lead                    
    Most active ShFE lead                    
    Three month LME nickel                 
    Most active ShFE nickel                   
    Three month LME tin                     
    Most active ShFE tin                             

 (Reporting by Melanie Burton, Editing by Joseph Radford and
Sherry Jacob-Phillips)
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