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METALS-ShFE copper rises as rest of metals complex sinks
April 24, 2017 / 7:34 AM / 8 months ago

METALS-ShFE copper rises as rest of metals complex sinks

(Updates prices)

By James Regan

SYDNEY, April 24 (Reuters) - Shanghai copper futures ended higher on Monday after see-sawing for most of the session as investors cut bets that Chinese demand was getting stronger and global tensions were easing.

The rest of the ShFE metals complex settled 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 was up 0.75 percent at $5,665 a tonne by 0721 GMT after ending down in the previous session.

* The most-traded copper contract on the Shanghai Futures Exchange gained 0.23 percent to 45,910 yuan ($6,667)a tonne.

* 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) said.

* 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.

* ShFE zinc slipped 1.2 percent to 21,515 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 market.

* 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 capacity.

* ShFE aluminium dropped 0.35 percent to 14,330 yuan a tonne.

* LME aluminium climbed 0.39 percent to $1,941 a tonne.

* Elsewhere in ShFE trading, tin tumbled 2.3 percent, while lead was off just under 1 percent.

* For the top stories in metals and other news, click or


* The euro vaulted to five-month peaks on Monday after the market’s favoured candidate, Centrist Emmanuel Macron, won through the first round of the French election, reducing the risk of a Brexit-like shock.


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

ARBS ($1 = 6.8866 Chinese yuan)

Reporting by James Regan; Editing by Sherry Jacob-Phillips

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