SYDNEY, April 24 Shanghai copper futures opened
higher on Monday but quickly went into negative territory as
investors cut bets that Chinese demand was getting stronger and
that global tensions were easing.
Copper's shift into the red pulled the rest of the ShFE
metals complex lower.
"Commodities struck a note of caution as investors continued
to grapple with geopolitical risks amid mixed fundamentals," ANZ
Bank said in a note.
* North Korea said on Sunday it was ready to sink a U.S.
aircraft carrier to demonstrate its military might, in the
latest sign of rising tension as U.S. President Donald Trump
prepared to call the leaders of China and Japan.
* Three-month copper on the London Metal Exchange
managed a 0.07 percent rise to $5,662 a tonne after ending last
* The most-traded copper contract on the Shanghai Futures
Exchange dropped 0.24 percent to 45,880 yuan ($6,664)a
* The global refined copper market had a 51,000 tonne
surplus in January, up from a 44,000 tonne surplus in January
last year, the International Copper Study Group (ICSG)
ShFE zinc, which led ShFE metals contract's higher
on Friday, recoiled more than 1 percent to 21,530 yuan.
* Matt Chamberlain was named London Metal Exchange (LME)
chief executive on Friday, with a mandate from its owner the
Hong Kong bourse to reform the world's largest and oldest metals
* COLUMN: Is aluminium the new steel for China's
policy-makers? The country's steel producers are already being
subjected to a host of measures intended to weed out excess
ShFE aluminium dropped 0.17 percent to 14,355 yuan ($2,085)
LME aluminium was up 0.06 percent to $1,944 a tonne.
* Copper miner Freeport-McMoRan Inc warned on Friday
it would punish workers for absenteeism at its Indonesian unit,
a day after one of its main unions announced plans to go on a
one-month strike over employment conditions.
* The World Bank Group and the China-led Asian
Infrastructure Investment Bank said on Sunday they agreed to
deepen their cooperation with a framework for knowledge sharing,
staff exchanges, analytical work, development financing and
* For the top stories in metals and other news, click
* The euro vaulted to five-month peaks in choppy Asian
trading on Monday after the market's favoured candidate won
through the first round of the French election, reducing the
risk of a Brexit-like shock and sparking a mass unwinding of
* The euro scaled five-month highs against the dollar in
early Asian trading on Monday after the centrist candidate swept
to victory in the first round of the French presidential
election, reducing the risk of an anti-establishment shock in
the final round.
0800 Germany Ifo business climate Apr
1230 U.S. National activity index Mar
1430 U.S. Dallas Fed manufacturing index Apr
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 = 6.8845 Chinese yuan renminbi)
(Reporting by James Regan)