February 7, 2018 / 2:13 AM / 14 days ago

METALS-London metals recover as stock markets bounce back

    BEIJING, Feb 7 (Reuters) - London metals on Wednesday
recovered some of the ground they had lost in the previous
session as global equities bounced back after days of sharp
falls.
    
    FUNDAMENTALS
    * LME COPPER: Three-month copper on the LME was up 1
percent at $7,145 a tonne by 0154 GMT, recovering from a 1.3
percent drop in the previous session.
    * SHFE COPPER: The most-traded March copper contract on the
Shanghai Futures Exchange was down 0.1 percent at
53,080 yuan ($8,485.33) a tonne.
    * OTHER METALS: LME zinc, nickel and
aluminium made gains of 1 percent to 2 percent, with
only lead losing ground, trading down 0.5 percent.
    * FREEPORT: Freeport-McMoRan Inc reinstated its cash
dividend on Tuesday, three years after suspending it, reflecting
a stronger financial position, improved market conditions and a
positive outlook for cash generation.
    * ZIMBABWE: Zimbabwe has the potential to be a leading
producer of lithium, which has so far attracted more interest
than any other of its minerals, Zimbabwe's new Minister of Mines
and Mining Development Winston Chitando said on
Tuesday.
    * MARUBENI: Japanese trading house Marubeni Corp on
Tuesday posted a 53 percent jump in April-December net profit
and lifted its full-year forecast by 18 percent, boosted by
higher copper and coal price.
    * COLUMN: Africa's mining industry should be poised on the
verge of great things, but instead it appears to be seeking a
reset button as miners continue to clash with governments over
how best to exploit the continent's resources.
    * For the top stories in metals and other news, click       
 or     
        
    MARKETS NEWS    
    * Asian share markets were trying to find their footing on
Wednesday as a semblance of calm returned to Wall Street where
major indices bounced into the black after days of deep losses.
    
        
    DATA AHEAD (GMT)
    0700  Germany    Industrial output Dec
    0745  France    Trade data Dec
    0800  China      Forex reserves Jan
        
    PRICES    
    
 BASE METALS PRICES                        0150
 Three month LME copper                    7149
 Most active ShFE copper                  53080
 Three month LME aluminium                 2193
 Most active ShFE                         14230
 aluminium                              
 Three month LME zinc                    3499.5
 Most active ShFE zinc                    26665
 Three month LME lead                      2609
 Most active ShFE lead                    19330
 Three month LME nickel                   13635
 Most active ShFE nickel                 102760
 Three month LME tin                      21845
 Most active ShFE tin                    151310
                                               
 BASE METALS ARBITRAGE                         
 LME/SHFE COPPER            LMESHFCUc3  1130.11
 LME/SHFE ALUMINIUM         LMESHFALc3  -1616.9
                                              8
 LME/SHFE ZINC              LMESHFZNc3   681.99
 LME/SHFE LEAD              LMESHFPBc3  -327.36
 LME/SHFE NICKEL            LMESHFNIc3  1688.13
                                        
 
($1 = 6.2555 Chinese yuan)

    
 (Reporting by Tom Daly; Editing by Subhranshu Sahu)
  
 
 
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