February 7, 2020 / 5:24 AM / 2 months ago

REFILE-METALS-London copper dips as virus death toll stokes supply fears

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    Feb 7 (Reuters) - London copper prices dropped on Friday as
the death toll from a coronavirus outbreak mounted, raising
fears of potential economic damage and disruptions to the global
supply chain.
    Three-month copper on the London Metal Exchange (LME)
        was down 0.1% at $5,728 a tonne, as of 0445 GMT, while
the most-traded copper contract on the Shanghai Futures Exchange
(ShFE)          declined 0.6% to 45,660 yuan ($6,542.39) a
tonne.
    Other metals moved mixed on both bourses as a rally from the
past sessions lost steam. 
    LME aluminium         rose 0.3% to $1,742 a tonne, nickel
        advanced 0.7% to $13,150 a tonne, while zinc        
dipped 0.1% to $2,206 a tonne.
    In Shanghai, aluminium          rose 0.3% to 13,700 yuan,
while nickel          dipped 0.1% to 105,280 yuan a tonne, zinc
         decreased 0.3% to 17,300 yuan a tonne, and lead
         fell 0.4% to 14,105 yuan a tonne.
    More than 630 people had died and over 30,000 infected in
China due to the coronavirus outbreak, latest data showed.
            
    China's economy could be disrupted in the first quarter due
to the outbreak, but it is expected to recover once the virus is
brought under control, a vice governor of the central bank said.
            
    
    FUNDAMENTALS
    * BARRICK/GRASBERG: Barrick Gold Corp          is interested
in Freeport McMoRan Inc        's flagship Grasberg mine in
Indonesia, Chief Executive Mark Bristow said.
    * INDONESIA NICKEL: The first battery-grade nickel and
cobalt project in Indonesia using high-pressure acid leaching
technology could start commissioning in the second half of 2020,
consultancy firm CRU Group said.             
    * For the top stories in metals and other news, click       
          or             
        
    MARKETS NEWS    
    * Asian share markets slipped and oil price gains stalled,
as the growing death toll and economic damage from the
coronavirus outbreak put a lid on the week's sharp rally.
               
        
    DATA/EVENTS AHEAD (GMT)
    0700 Germany  Industrial Output MM     Dec
    0745 France   Reserve Assets Total     Jan
    0830 UK       Halifax House Prices MM  Jan
    1030 Russia   Central bank key rate    Feb
    1200 Brazil   IPCA Inflation Index MM  Jan
    1330 US       Non-farm Payrolls        Jan
    1330 US       Unemployment Rate        Jan
    1330 US       Average Earnings YY      Jan
    2000 US       Consumer Credit          Dec
     --  China    Exports, Imports YY      Jan
     --  China    Trade Balance USD        Jan
        
    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 = 6.9791 Chinese yuan)

 (Reporting by Mai Nguyen, Editing by Sherry Jacob-Phillips)
  
 
 
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