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METALS-London copper steady, China economic prospects underpin
2017年10月25日 / 凌晨2点36分 / 1 个月前

METALS-London copper steady, China economic prospects underpin

    BEIJING/MELBOURNE, Oct 25 (Reuters) - London copper was
steady on Wednesday, after hitting its highest in a week in the
previous session, on encouraging prospects for economic growth
in China, the world's top consumer of metals. 
    
    FUNDAMENTALS
    * LME COPPER: Three-month copper on the London Metal
Exchange         was down 0.02 percent at $7,034 a tonne, by
0218 GMT, after rising 0.4 percent in the previous session when
it touched a one-week high and came within the reach of
three-year peaks of $7,177 a tonne from Oct. 16.
    * SHFE COPPER: The most-traded copper contract on the
Shanghai Futures Exchange          slipped 0.2 percent to 55,160
yuan ($8,309). Prices are nearing a 4-1/2-year high at 55,910
yuan hit on Oct. 17.
    * CHINA ECONOMY: China's economy will likely grow 6.8
percent in 2017, topping the state target and accelerating for
the first time in seven years, a Reuters poll showed, as Beijing
walks a tightrope by containing debt and property risks without
stunting economic growth.             
    * USD: Metals faced some headwinds from the dollar which was
close to two-week highs on a report that Stanford University
economist John Taylor has support from a group of Republican
Senators to be Federal Reserve chief offset news that might
hamper the passage of a tax-cut plan.       
    * COPPER: The copper market should see a deficit of 151,000
tonnes this year and a deficit of 104,000 tonnes in 2018, the
International Copper Study Group (ICSG) said on Tuesday. 
            
    * NICKEL: Nickel prices were supported after an industry
group said demand would exceed supply for a third straight year
in 2018 due to expansion in the stainless steel industry and
batteries industries.             
    * For the top stories in metals and other news, click       
          or         
    
        
    MARKETS NEWS    
    * COPPER: A private coal mining industry investor in Shanxi
province is said to be the main actor behind a dramatic increase
in bullish bets in Chinese copper futures.                 
    * NICKEL: Indonesia's PT Aneka Tambang Tbk (Antam)          
received a recommendation from the mining ministry for an
additional 1.25 million tonnes of nickel ore exports over the
next 12 months.                               
     * Asian shares trod water in early trade on Wednesday,
while U.S. Treasury yields and the dollar got a lift following a
report Republican senators were leaning towards John Taylor to
be the next Federal Reserve chief.                
   
    DATA AHEAD (GMT)
    0800  Germany Ifo business climate Oct
    0830  Britain Preliminary GDP Q3
    1230  U.S. Durable goods Sep
    1300  U.S. Monthly home price index Aug
    1400  U.S. New home sales Sep     
    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 = 6.6386 Chinese yuan)

    
 (Reporting by Melanie Burton; Editing by Sherry Jacob-Phillips)
  
 
 

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