December 5, 2018 / 1:37 AM / a year ago

METALS-London base metals fall as Sino-US trade worries resurface

HANOI, Dec 5 (Reuters) - Industrial metals on the London Metal Exchange fell on Wednesday as U.S.-China trade tensions resurfaced, raising concerns over economic growth and demand.

U.S. President Donald Trump threatened to place "major tariffs" on Chinese goods imported into the United States if his administration is unable to reach an effective trade deal with Beijing.

But China said Beijing and Washington will push forward with trade negotiations in the next 90 days and it is confident that an agreement can be implemented.


* Three-month copper on the London Metal Exchange fell 0.3 percent to $6,189 a tonne by 0121 GMT, while the most-active contract on the Shanghai Futures Exchange lost 1.4 percent to 49,250 yuan ($7,206.30) a tonne.

* London aluminium fell 0.2 percent to $1,971 a tonne, while nickel eased 0.1 percent and zinc was 0.4 percent lower.

* TRADE: U.S. President Donald Trump on Tuesday held out the possibility of an extension of the 90-day trade truce with China but warned he would revert to tariffs if the two sides could not resolve their differences.

* U.S. DOLLAR: The greenback edged up on Wednesday, putting further pressure on London metals which are traded in dollars, as the commodities became more expensive for countries using other currencies.

* Nickel: Brazilian miner Vale SA, the world's top nickel producer, plans to invest $500 million in its struggling New Caledonia nickel mine on its own after previously vowing to find a partner for the venture, reflecting its new understanding of the importance of an expected surge in electric vehicle sales.

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* Asian stocks fell on Wednesday, dragged by Wall Street's tumble as sharp declines in long-term U.S. Treasury yields and resurgent trade concerns stoked investor worries about global economic growth.


0145 China Caixin services PMI Nov

0745 France Current account Oct

0850 France Markit services PMI Nov

0855 Germany Markit services PMI Nov

0900 Euro zone Markit services PMI final Nov

1000 Euro zone Retail sales Oct

1315 U.S. ADP national employment Nov

1500 U.S. ISM non-manufacturing PMI Nov

1900 Federal Reserve issues Beige Book of economic condition


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 = 6.8343 Chinese yuan)

Reporting by Mai Nguyen; Editing by Subhranshu Sahu

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