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Company News

METALS-Copper eases on uncertainty around U.S. stimulus

Oct 12 (Reuters) - Copper prices in London fell on Monday due to continued uncertainty around a U.S. stimulus package, which could boost demand for the metal.

Three-month copper on the London Metal Exchange eased 0.1% to $6,758.50 a tonne by 0321 GMT, while the most-traded November copper contract on the Shanghai Futures Exchange edged up 0.1% to 51,480 ($7,661.63) a tonne.

The Trump administration on Sunday called on Congress to pass a stripped-down coronavirus relief bill using leftover funds from an expired small-business loan programme, as negotiations on a broader package ran into resistance.

FUNDAMENTALS

* The union of workers at Chile’s Collahuasi copper mine has come to an agreement in labour talks with the mine operator, staving off the threat of a strike at the sprawling deposit.

* The union of supervisors at Chile’s Escondida mine rejected BHP’s final offer in contract negotiations, but the company said it would meet again with the union in a last-ditch effort to stave off a strike.

* LME aluminium rose 0.4% to $1,849 a tonne, nickel dipped 0.2% to $15,185 a tonne while Shanghai nickel rose 1.3% to 117,010 yuan a tonne.

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

MARKETS NEWS

* Chinese stocks led Asian markets higher as investors bet on a steady recovery for the world’s no. 2 economy, though caution about the fate of U.S. stimulus kept the dollar firm and a central bank policy tweak unwound some of the yuan’s gains.

DATA/EVENTS (GMT)

1200 India Industrial Output YY Aug

PRICES

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 = 6.7192 Chinese yuan) (Reporting by Mai Nguyen; Editing by Rashmi Aich)

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