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METALS-Shanghai copper lower as investors turn to equities
May 11, 2017 / 8:02 AM / 7 months ago

METALS-Shanghai copper lower as investors turn to equities

(Updates prices)

By James Regan

SYDNEY, May 11 (Reuters) - Shanghai copper traded lower on Thursday as investors turned to equities and oil, where a U.S.-led rally was spilling into Asian markets.

* Three-month London Metal Exchange copper managed to find some support, trading 1.1 percent higher at $5,562 a tonne by 0741 GMT, reversing losses from the previous session. But the contract remained close to the four-month lows hit earlier this week as the market fretted about weak demand from China after data showed falling imports.

* The most-traded copper contract on the Shanghai Futures Exchange slipped 0.71 percent to 45,270 yuan ($6,558) a tonne.

SHANGHAI: ShFE aluminium, zinc, lead , nickel and tin ended higher after trading lower at the start of trade.

COPPER WALKOUT: Workers at BHP Billiton‘s, Cerro Colorado copper mine in Chile will strike for 24 hours in the coming weeks to protest recent layoffs and the company’s general attitude toward miners.

* GREEN ALUMINIUM: Aluminium is one of the materials benefiting from the greening of the world’s economy. Lightweight and durable, it has been making steady inroads into the transportation sector in particular and enjoys one of the strongest usage profiles of any industrial metal.

STOCK MARKETS: Asian stocks rose on Thursday, getting a lift from a record high close on MSCI’s global stocks benchmark as strong gains in oil prices buoyed energy shares.


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 = 6.9011 Chinese yuan) ($1 = 6.9034 Chinese yuan renminbi)

Reporting by James Regan; Editing by Amrutha Gayathri

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