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METALS-London copper slips as North Korea tensions grow
April 12, 2017 / 2:19 AM / 8 months ago

METALS-London copper slips as North Korea tensions grow

    MELBOURNE, April 12 (Reuters) - London copper eased on
Wednesday amid heightening geopolitical tensions with North
Korea, but held above two-week lows hit in the previous session
on a healthy demand outlook. 
    * LME COPPER: London Metal Exchange copper traded
down 0.1 percent at $5,763 a tonne by 0200 GMT, after ending a
tad firmer on Tuesday having previously slumped to $5,710 a
tonne during the session, a two-week low.
    * SHFE COPPER: Shanghai Futures Exchange copper
traded flat at 46,840 yuan ($6,799) a tonne. ShFE zinc
and nickel remained under pressure but cut losses to
0.9 percent and 2.5 percent respectively, due to weakness in
China's steel sector. 
    * NORTH KOREA: North Korean state media warned on Tuesday of
a nuclear attack on the United States at any sign of American
aggression, as a U.S. Navy strike group steamed toward the
western Pacific - a force President Donald Trump described as an
    * U.S. RATES: San Francisco Federal Reserve Bank President
John Williams said on Tuesday the U.S. central bank should raise
interest rates three or four times this year, and begin to trim
the Fed's multitrillion-dollar balance sheet in late 2017.

    * CHINA PROPERTY: At least 12 major Chinese cities are
requiring newly bought homes to be held for at least two to
three years before they can be sold, the first time that cities
in the country are taking such measures and suggesting
intensified government efforts to cool the red-hot property
    * China's producer price inflation cooled for the first time
in seven months in March as iron ore and coal prices tumbled,
pressured by fears that domestic demand is not strong enough to
absorb surging supplies of steel.
    * SOUTHERN COPPER: Union representatives and executives from
miner Southern Copper in Peru failed to reach an
agreement to end an indefinite strike after a long meeting on
Monday night, the union said on Tuesday. 
    * ZINC: Expected shortages of zinc, a metal often favoured
by speculators, may not materialise this year because recent
price gains have spurred miners around the world to increase
    * For the top stories in metals and other news, click       
    * Investors ducked for cover on Wednesday as news of
geopolitical tensions sent the safe-haven yen and gold to
five-month highs and yields on top-rated sovereign bonds to
their lowest for the year so far.    
    0600    Germany   Wholesale prices       March 
    0830    U.K.      ILO unemployment rate  Feb  
    1230    U.S.      Import prices          March    
 BASE METALS PRICES                0153 GMT            
 Three month LME copper                          5765.5
 Most active ShFE copper                          46860
 Three month LME aluminium                         1927
 Most active ShFE aluminium                          30
 Three month LME zinc                            2594.5
 Most active ShFE zinc                            21440
 Three month LME lead                              2256
 Most active ShFE lead                                4
 Three month LME nickel                            9880
 Most active ShFE nickel                              5
 Three month LME tin                              20000
 Most active ShFE tin                                 1
 BASE METALS ARBITRAGE                                 
 LME/SHFE COPPER              LMESHFCUc3          482.3
 LME/SHFE ALUMINIUM           LMESHFALc3        -1365.6
 LME/SHFE ZINC                LMESHFZNc3         253.65
 LME/SHFE LEAD                LMESHFPBc3       -2187.35
 LME/SHFE NICKEL              LMESHFNIc3           1120

($1 = 6.8893 Chinese yuan renminbi)

 (Reporting by Melanie Burton; Editing by Kenneth Maxwell)

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