June 7, 2019 / 2:19 AM / 3 months ago

METALS-Copper set for 1st weekly gain in 8 weeks amid easing dollar

SINGAPORE, June 7 (Reuters) - Copper prices on the London Metal Exchange (LME) rose on Friday as the U.S. dollar weakened, while the metal looked set for a weekly gain for the first time in eight weeks.

Three-month copper on the London Metal Exchange rose 0.7% to $5,851.50 a tonne by 0158 GMT. On a weekly basis, it has risen 0.4% and would be the first gain since the week ended April 12.

Meanwhile, the dollar index eased on Friday and was poised for its worst weekly performance this year, as investors waited for a key U.S. jobs report. A weaker dollar makes commodities priced in the greenback cheaper for buyers using other currencies.

The base metals market was also trading in low volume due to lack of participation from Chinese traders who are on a public holiday for the Dragon Boat Festival. The Shanghai Futures Exchange is closed on Friday and will reopen on Monday.


* Unions at Chile’s Chuquicamata copper mine expressed disappointment in state-run miner Codelco’s latest contract offer on Thursday but agreed to extend negotiations in hopes of averting a strike.

* China announced a series of measures on Thursday to revive slumping car sales, but failed to meet market expectations as it included no plans to relax controls over the issuance of new licenses for traditional-fuel cars in major cities.

* U.S. President Donald Trump said on Thursday he would decide whether to carry out his threat to hit Beijing with tariffs on at least $300 billion in Chinese goods after the G20 summit in Japan late this month. [nL8N23D1TL

* Lynas Corp is making an aggressive push for fresh business across the globe and billing itself as the best option for its customers to tap diversified supplies of rare earth minerals as major supplier China threatened to curb exports.

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


* Asian share markets dithered as investors waited for concrete signs of progress in the U.S.-Mexican trade standoff, while bracing for a U.S. jobs report that could sway the course of interest rates there.


0350 Japan Keynote speech by Bank of Japan Governor

Haruhiko Kuroda at the G20/GPFI Forum

0600 Germany Industrial Output MM April

0730 UK Halifax House Prices MM May

1200 Brazil IPCA Inflation Index MM May

1230 US Non-Farm Payrolls May

1230 US Unemployment Rate May

1230 US Average Earnings YY 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

Reporting by Mai Nguyen; editing by Uttaresh.V

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below