November 23, 2018 / 1:46 AM / 8 months ago

METALS-Copper market struggles amid U.S.-China trade tensions

SINGAPORE, Nov 23 (Reuters) - London copper was little changed on Friday after closing marginally higher in the last session with prices capped by trade tensions between Washington and Beijing.

China rejected fresh U.S. accusations of perpetuating “unfair” trade practices and urged Washington on Thursday to stop making provocations, showing little sign of backing down days ahead a high-stakes meeting between leaders from both countries.


* Three-month copper on the London Metal Exchange unchanged at $6,255 a tonne 0135 GMT and the most-traded copper contract on the Shanghai Futures Exchange rose 0.5 percent to 49,760 yuan ($7,177.68) a tonne.

* Indonesia’s environment ministry aims to resolve within two weeks environmental issues that have been holding up the state’s plans to acquire a majority stake in Freeport McMoRan Inc’s Grasberg copper mine.

* LME zinc rose for a third consecutive session, underpinned by tightening supplies. Three-month zinc on LME added 0.5 percent to $2,594 a tonne and prices in Shanghai rose 0.7 percent to 21,240 yuan a tonne.

* At 123,500 tonnes, LME stocks have roughly halved since mid-August. MZNSTX-TOTAL

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


* Asian shares barely budged in early Friday trade as investors were reluctant to make any big bets in the face of trade tensions, signs of slowing earnings and Brexit negotiations.

DATA/EVENTS 0700 Germany Detailed GDP Q3 0815 France Markit manufacturing PMI Nov 0830 Germany Markit manufacturing PMI Nov 0900 Euro zone Markit manufacturing PMI Nov 1445 U.S. Markit manufacturing PMI Nov


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 = 6.9326 Chinese yuan)

Reporting by Naveen Thukral; Editing by Amrutha Gayathri

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