August 24, 2018 / 2:22 AM / 9 months ago

METALS-Copper slips as U.S-China talks end, heads for best week in 4

    BEIJING, Aug 24 (Reuters) - London copper prices edged down
in early Asian trade on Friday, moving lower for a third
straight session due to a stronger dollar and after U.S. and
Chinese officials ended two days of trade talks without any
major breakthroughs.
    London Metal Exchange copper is still on course to end the
week 0.7 percent higher, which would mark its first weekly jump
since the week ended Jul. 27, as the trade talks fuelled
    The metal remains down 5.2 percent this month on concerns
the U.S.-China trade row will hurt demand for industrial metals
and is heading for its worst month since August 2016.
    * LME COPPER: Three-month copper on the LME was down
0.2 percent at $5,977 a tonne by 0144 GMT, extending a 0.3
percent dip in the previous session. 
    * SHFE: The most-traded October copper contract on the
Shanghai Futures Exchange was up 0.3 percent to 48,390
yuan ($7,039.57) a tonne and on course for a weekly gain of 1.1
    * TRADE TALKS: China and the United States had a
constructive and candid exchange over trade issues, the Chinese
commerce ministry said in a statement on its website on Friday.

    * OTHER METALS: Shanghai lead was the top performer
in the base metals complex, rising as much as 2.3 percent to a
two-week high of 18,205 yuan a tonne on concerns over tight
stocks, while zinc added around 1 percent.    
    * LEAD: Canadian diversified miner Teck Resources Ltd
, said on Thursday that lead smelting at its
Trail, British Columbia facility was suspended for a fourth day
due to wildfires in the province.
    * COLUMN: U.S. disrupts aluminium supply chain, but not
where it counts: Andy Home
    For the top stories in metals and other news, click       
    *  Asian stocks tracked Wall Street losses and edged down in
early trade on Friday, but the dollar was buoyant after ending a
long losing run ahead of a speech by Federal Reserve Chairman
Jerome Powell.    

    0600  Germany     Detailed GDP Q2
    1230  U.S.      Durable goods Jul
    1400  Federal Reserve Chairman Jerome Powell speaks 
          at Jackson Hole, Wyoming symposium     
 BASE METALS PRICES                        0144 GMT
 Three month LME copper                        5977
 Most active ShFE copper                      48390
 Three month LME aluminium                   2065.5
 Most active ShFE aluminium                   14720
 Three month LME zinc                          2458
 Most active ShFE zinc                        20850
 Three month LME lead                        2063.5
 Most active ShFE lead                        18110
 Three month LME nickel                       13320
 Most active ShFE nickel                     110020
 Three month LME tin                          19095
 Most active ShFE tin                        145370
 BASE METALS ARBITRAGE                             
 LME/SHFE COPPER              LMESHFCUc3     681.87
 LME/SHFE ALUMINIUM           LMESHFALc3   -1698.13
 LME/SHFE ZINC                LMESHFZNc3     612.16
 LME/SHFE LEAD                LMESHFPBc3     708.04
 LME/SHFE NICKEL              LMESHFNIc3     2650.6

($1 = 6.8740 Chinese yuan renminbi)

 (Reporting by Tom Daly; editing by Richard Pullin)
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