May 21, 2018 / 2:00 AM / a year ago

METALS-London copper edges higher as trade war fears recede

    MELBOURNE, May 21 (Reuters) - London copper edged higher on
Monday after a truce in a trade row between China and the United
States soothed concerns the dispute could escalate, however
headwinds from a stronger dollar capped gains.     
    * COPPER: Three-month copper on the London Metal Exchange
 edged up by 0.2 percent to $6,869 a tonne by 0142 GMT,
reversing small losses from the previous session. Prices have
been caught in a tight $6,765-$6,900 range for the past week.
    * Shanghai Futures Exchange copper also edged up by
0.4 percent to 51,410 yuan ($8,062) a tonne.
    * TRADE: The U.S. trade war with China is "on hold" after
the world's largest economies agreed to drop their tariff
threats while they work on a wider trade agreement, U.S.
Treasury Secretary Steven Mnuchin said on Sunday.
    * DOLLAR: The dollar edged up against the yen on Monday,
after Mnuchin's comments, boosting risk sentiment amid hopes for
an easing of trade tensions between the world's two biggest
    * JAPAN ECONOMY: Japan's exports accelerated in April on
increased shipments of cars and machines used to make
semiconductors, suggesting healthy overseas demand could help
the economy recover quickly from a dip in the first quarter.

    * CHINA ECONOMY: China's economy will likely expand around
6.7 percent in the second quarter this year, the State
Information Center (SIC) said in an article in the state-owned
China Securities Journal on Saturday.
    * COPPER: Vedanta Resources Plc's shutdown of its
South Indian copper smelter, one of India's biggest, is causing
a copper deficit and increased prices in India, its subsidiary
Vedanta Ltd said on Friday. 
    * RUSAL: UC Rusal has not yet received any formal notice
that sanctions target Oleg Deripaska has resigned from his board
position at major Rusal shareholder EN+, the aluminium maker
said on Monday.
    * For the top stories in metals and other news, click       
    *  U.S. stock futures jumped on Monday as U.S. Treasury
Secretary Steven Mnuchin said the U.S. trade war with China is
"on hold" after the world's two largest economic powers agreed
to drop their tariff threats while they work on a wider trade
    1230  U.S. National activity index            Apr
    PRICES    0127 GMT     
 Three month LME copper                    6869.5
 Most active ShFE copper                    51430
 Three month LME aluminium                 2264.5
 Most active ShFE                           14810
 Three month LME zinc                      3106.5
 Most active ShFE zinc                      23970
 Three month LME lead                        2355
 Most active ShFE lead                      19770
 Three month LME nickel                     14655
 Most active ShFE nickel                   109070
 Three month LME tin                            0
 Most active ShFE tin                      145410
 BASE METALS ARBITRAGE                           
 LME/SHFE COPPER            LMESHFCUc3     368.14
 LME/SHFE ALUMINIUM         LMESHFALc3    -1999.5
 LME/SHFE ZINC              LMESHFZNc3     414.06
 LME/SHFE LEAD              LMESHFPBc3     696.25
 LME/SHFE NICKEL            LMESHFNIc3    -1822.5

($1 = 6.3769 Chinese yuan renminbi)

 (Reporting by Melanie Burton; editing by Richard Pullin)
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