SINGAPORE, May 18 (Reuters) - Copper prices climbed on Monday as the reopening of economies paralyzed by the coronavirus crisis boosted hopes of a revival in demand for metals.
Three-month copper on the London Metal Exchange (LME) rose 1% to $5,234.50 a tonne by 0137 GMT, while the most-traded July copper contract on the Shanghai Futures Exchange (ShFE) advanced 0.3% to 42,940 yuan ($6,045.08) a tonne.
Summer weather is enticing much of the world to emerge from coronavirus lockdowns as centres of the outbreak from New York to Italy and Spain gradually lift restrictions that have kept millions cooped up for months.
* OTHER PRICES: LME aluminium rose 0.7% to $1,472 a tonne and nickel advanced 0.8% to $11,955 a tonne, while zinc was up 0.7% to $1,975 a tonne and lead increased 0.7% to $1,611 a tonne.
* SHANGHAI PRICES: ShFE aluminium climbed 1.4% to 12,730 yuan a tonne and zinc advanced 1% to 16,580 yuan a tonne, while nickel fell 0.6% to 99,150 yuan a tonne.
* DAYE: China Daye Non-Ferrous Metal Mining Ltd, one of the country’s top copper producers, said its refined copper output came in more than 10% below target in the first quarter as the coronavirus outbreak hit operations.
* ZAMBIA COPPER: Zambia reopened its Nakonde border with Tanzania on Friday for cargo after a five-day closure of the transit point for copper and cobalt exports and fuel imports, but people were not allowed to cross.
* CHINA: The danger of a second wave of infections is looming large in China, Chinese government’s senior medical adviser Zhong Nanshan told CNN.
* BUSINESS: China and South Korea have consulted Japan about easing border controls on business travellers to help revive business activities, the Yomiuri newspaper reported.
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* Asian shares crept ahead and oil prices hit a five-week high as more countries re-opened their economies, stirring hopes the world was nearer to emerging from recession.
1400 US NAHB Housing Market Indx May
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 = 7.1033 yuan) (Reporting by Mai Nguyen; Editing by Devika Syamnath)