November 28, 2018 / 2:15 AM / 21 days ago

METALS-Copper steadies after 3-day decline, weighed down by trade uncertainty

HANOI, Nov 28 (Reuters) - LME copper was little changed on Wednesday after three days of losses but other industrial metals eased amid further uncertainty over the direction of the U.S.-China trade war.

U.S. President Donald Trump is open to reaching a deal on U.S.-China trade irritants over dinner on Saturday with Chinese leader Xi Jinping but is ready to hike tariffs on Chinese imports if there is no breakthrough, White House economic adviser Larry Kudlow said on Tuesday.

The comments came a day after Trump, who is due to meet with Xi this week, said he expected to move ahead with raising tariffs on $200 billion in Chinese imports to 25 percent from 10 percent currently and would also put tariffs on the rest of Chinese imports if negotiations are unsuccessful.

FUNDAMENTALS

* Three-month copper on the London Metal Exchange was unchanged at $6,121.5 a tonne by 0145 GMT, while the copper contract on the Shanghai Futures Exchange edged down 0.3 percent to 49,930 yuan ($7,177.67) a tonne.

* U.S. DOLLAR: The greenback rose after Federal Reserve Vice Chair Richard Clarida backed further interest rate hikes, while investors waited on a speech by Fed Chairman Jerome Powell on Wednesday for clues on how many more times the central bank is likely to raise interest rates.

* LME: A group of traders are in talks with Sigma Broking Ltd to create the first new open-outcry member of the LME in more than a decade in a move that would be fresh blood for the LME ring, which has steadily lost members over the years.

* NORILSK NICKEL: Russian businessman Vladimir Potanin plans to appeal a London court decision to block him from buying shares in mining company Norilsk Nickel from fellow investor Roman Abramovich, representatives at Potanin's investment firm said on Tuesday.

* For the top stories in metals and other news, click or

MARKETS NEWS

* Asian shares dithered on Wednesday and the dollar jumped to a near 1-1/2-year top as risk assets rowed back amid conflicting signals on prospects for de-escalating the Sino-U.S. trade dispute.

DATA/EVENT AHEAD (GMT)

0700 Germany GfK consumer sentiment Dec

0900 Italy Producer prices Oct

0900 Euro zone Money supply, bank lending Oct

1330 U.S. GDP 2nd estimate Q3

1330 U.S. Wholesale inventories Oct

1500 U.S. New home sales Oct

1700 Federal Reserve Chairman Jerome Powell speaks before

the Economic Club of New York Signature Luncheon

PRICES

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

ARBS ($1 = 6.9563 Chinese yuan)

Reporting by Mai Nguyen; editing by Richard Pullin

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