MELBOURNE, March 15 London copper marked time on
Wednesday ahead of the outcome of a U.S. Federal Reserve meeting
that is expected to dictate direction in the dollar, with
dissipating concerns over mine supply dragging on prices for the
* Three-month copper on the London Metal Exchange
had edged up 0.1 percent to $5,828.50 a tonne by 0107 GMT,
adding to small gains from the previous session. Prices last
week fell to their lowest since Jan. 10 at $5,652 a tonne.
* Shanghai Futures Exchange copper was trading up
0.7 percent at 47,710 yuan ($6,901) a tonne.
* The Escondida copper mine in Chile plans to restart
operations after striking workers again rejected an invitation
by controlling owner BHP Billiton, to return to
negotiations, an executive told reporters late Tuesday.
* A strike at Peru's top copper mine, Cerro Verde, may end
next week if the labour ministry declares it illegal, the head
of the union said on Tuesday after negotiations with owner
Freeport-McMoRan Inc ended without an agreement on
* China issued a raft of upbeat data on Tuesday showing the
economy got off to a strong start to 2017, supported by strong
bank lending, a government infrastructure spree and a
much-needed resurgence in private investment.
* The total net long position of funds trading copper on the
London Metal Exchange fell to 56,653 lots on Friday from a net
long position of 70,580 lots the previous week, the LME's
Commitments of Traders Report (COTR) showed on Tuesday.
* In other metals, LME tin slipped 1.2 percent,
paring a 2.7-percent surge on Tuesday. Nearby prices CMSNT-0
jumped to a $7 premium for those rolling positions for a day,
which is likely to trigger more deliveries into LME warehouses.
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* Asian equities opened slightly lower, as investors stayed
cautious awaiting the outcome of several central bank meetings
later on Wednesday.
DATA/EVENT AHEAD (GMT)
1000 Euro zone Employment Q4
1230 U.S. Consumer prices Feb
1230 U.S. New York Fed manufacturing Mar
1230 U.S. Retail sales Feb
1400 U.S. Business inventories Jan
1400 U.S. NAHB housing market index Mar
1800 Federal Open Market Committee releases statement
1830 Federal Reserve Chair Janet Yellen holds news briefing
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
($1 = 6.9130 Chinese yuan renminbi)
(Reporting by Melanie Burton; Editing by Joseph Radford)