SYDNEY, April 11 London copper was steady on
Tuesday after dropping the day before, but concerns about
oversupply continued to drag as the world's top two copper mines
look to recover from disruptions.
* LME COPPER: London Metal Exchange copper had
gained 0.02 percent to $5,757 a tonne by 0105 GMT, after
dropping nearly 1.5 percent the day before.
* SHFE COPPER: Shanghai Futures Exchange copper
declined 1 percent to 46,670 yuan ($6,765 ) a tonne.
* COPPER SUPPLY: Prices have faltered since shipments
resumed from BHP Billiton's Escondida mine in
Chile and since Freeport McMoRan Inc said it was
awaiting final details on a temporary export permit in
Indonesia, ending lengthy disruptions.
* FOREIGN EXCHANGE: The dollar fell in Asian trading amid
concerns over tensions with North Korea and Syria.
* U.S. STOCKS: U.S. stocks ended a choppy session slightly
higher as gains in energy shares offset losses in financials
ahead of quarterly corporate earnings later this week.
* BHP: BHP on Monday rejected a plan by activist shareholder
Elliott Advisors to scrap the miner's dual company structure,
split off its oil business and return more cash to investors,
saying the costs would outweigh any benefits.
* PERU: A Southern Copper Corp spokesman said its
copper operations in Peru were near normal as workers started an
indefinite strike on Monday, although a union representative
said 80 percent of capacity was affected.
* NEW CALEDONIA: A powerful cyclone that hit New Caledonia
late on Monday and shuttered nickel operations has moved
offshore, allowing authorities to lift warnings on the French
South Pacific territory.
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* MARKETS: Global stock markets were pressured on Tuesday as
rising tensions in the Middle East and political uncertainty in
Europe kept investors on edge.
DATA AHEAD (GMT)
0900 Euro Zone Industrial Production Feb
1000 U.S. NFIB Business Optimism Mar
1400 U.S. JOLTS Job Openings Feb
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 = 6.8988 Chinese yuan renminbi)
(Reporting by James Regan; Editing by Joseph Radford)