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METALS-Copper finds support despite weak China outlook
April 28, 2017 / 7:10 AM / 8 months ago

METALS-Copper finds support despite weak China outlook

(Updates prices)

By James Regan

SYDNEY, April 28 (Reuters) - Copper tracked modestly higher on Friday with traders saying some investors were active buying on price dips, but warning at the same time that broader industry sentiment pointed to a weaker outlook.


* COPPER: Three-month copper on the London Metal Exchange was up 0.4 percent to $5,713 a tonne at 0700 GMT, reversing losses from the previous session.

* SHANGHAI: The most-traded copper contract on the Shanghai Futures Exchange settled 0.04 percent higher at 46,330 yuan ($6,719)a tonne.

* China’s main stock indexes fell on Friday and looked set for their third straight weekly loss on fears regulators will step up their latest crackdown on riskier types of financing and speculation.

* CHINESE MANUFACTURING: The pace of expansion in China’s manufacturing sector likely slowed this month, a Reuters poll showed. Data is due on Sunday, April 30.

* ANTI-MINING: Nickel prices have been rising since Philippine Environment Secretary Regina Lopez said on Thursday she would ban open-pit mining.

NICKEL PRICES: ShFE nickel settled 1.7 percent higher. LME nickel was up 1 percent.

* BHP SHAREHOLDERS: Two weeks after Elliott Management’s surprise assault on BHP Billiton, its three-point demand for change is gaining little traction.

* SILVER: London’s silver price benchmark is plagued by unpredictable fluctuations that risk undermining its credibility and may complicate London Bullion Market Association efforts to find a new operator, according to a Reuters analysis of trading data and 10 industry sources.

* MARKET NEWS: Asian stocks slipped on Friday as investors took profits after a strong week, while the Korean won weakened after U.S. President Donald Trump said he would renegotiate or terminate a trade deal with South Korea.

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

DATA/EVENTS 0600 Germany Import prices Mar 0600 Germany Retail sales Mar 0600 Britain House prices Apr 0645 France Consumer spending Mar 0830 Britain Preliminary GDP Q1 0900 Euro zone Inflation flash Apr 1230 U.S. GDP advance Q1 1230 U.S. Employment costs Q1 1345 U.S. Chicago PMI 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

ARBS ($1 = 6.8953 Chinese yuan)

Reporting by James Regan; Editing by Kenneth Maxwell and Amrutha Gayathri

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