for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

METALS-Industrial metals slip as virus resurgence weighs

Dec 15 (Reuters) - Copper and other base metals in London fell on Tuesday as concerns over the economic impact of new coronavirus-induced lockdowns eclipsed strong industrial output data from China.

Three-month copper on the London Metal Exchange fell 0.3% to $7,727.50 a tonne by 0226 GMT, extending losses into a third straight session.

The most-traded January copper contract on the Shanghai Futures Exchange dropped 0.3% to 57,510 yuan a tonne, marking its second day of losses.

Resurging coronavirus cases prompted some European countries to impose strict lockdowns and raised concerns in Japan and South Korea, while the euphoria eased over a vaccine roll-out in the United States, where the COVID-19 death toll crossed 300,000.

Industrial output in top metals consumer China grew 7% in November from a year earlier, in line with expectations and expanding for the eighth straight month, showing a steady recovery in the world’s second-largest economy.

FUNDAMENTALS

* Freeport-McMoRan Inc has agreed copper treatment and refining charges for 2021 with four Chinese smelters at 4% below this year’s terms, heralding a sixth straight drop in the annual benchmark.

* A fire broke out at nickel mining facilities owned by Brazil’s Vale SA in New Caledonia during local protests, as a simmering political dispute on the Pacific Island shows no signs of abating.

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

MARKETS NEWS

* Asian stocks drifted lower on Tuesday as worries about increasing COVID-19 deaths and lockdowns overshadowed optimism about the roll-out of coronavirus vaccinations.

PRICES

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 Enrico Dela Cruz in Manila; Editing by Aditya Soni

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up