SINGAPORE, April 1 (Reuters) - Most base metals rose on Monday after data showed signs of improvement in China’s manufacturing sector and as indications of progress in U.S.-China trade talks supported the sentiment.
Factory activity in China unexpectedly grew for the first time in four months in March, the official Purchasing Managers’ Index showed on Sunday, suggesting government stimulus measures may be starting to take hold in the economy.
U.S. President Donald Trump said on Friday that trade talks with China were going very well, but cautioned that he would not accept anything less than a “great deal” after top U.S. and Chinese trade officials wrapped up negotiations in Beijing.
* Three-month copper on the London Metal Exchange rose 0.6 percent to $6,521.5 a tonne by 0105 GMT, while the most-traded copper contract on the Shanghai Futures Exchange advanced 1.3 percent to 49,260 yuan ($7,339.97) a tonne.
* Most other London metals rose except for zinc which dipped 0.2 percent, while all Shfe metals increased, with the Shanghai zinc contract touching a near 13-month high at 23,020 yuan a tonne.
* Chilean state miner Codelco, the world’s top copper producer, produced 3.3 percent less copper in 2018 than the year before as it continued to contend with declining ore grades and rising costs at its aging mines.
* The recently-freed leader of an indigenous community that has cut off access to Chinese miner MMG Ltd’s copper mine Las Bambas in Peru said on Saturday that he was open to talks with the government, the first sign of a potential breakthrough in a dispute that has halted the mine’s exports.
* Polish miner KGHM and a union representing workers at its Sierra Gorda copper mine in Chile have come to an agreement over contract talks, the head of the union told Reuters, heading off the threat of a strike.
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* Asian stocks rose as signs of progress in U.S.-China trade talks and firmer Wall Street shares supported sentiment, although another defeat for British Prime Minister Theresa May’s proposed Brexit deal added to the pound’s recent woes.
0200 Indonesia Inflation YY March
0750 France Markit Mfg PMI March
0755 Germany Markit/BME Mfg PMI March
0800 EU Markit Mfg Final PMI March
0830 UK Markit/CIPS Mfg PMI March
0900 EU HICP Flash YY March
0900 EU HICP-X F&E Flash YY March
1230 US Retail Sales MM Feb
1300 Russia GDP YY Quarterly Prelim Q4
1300 EU European Central Bank Vice-President Luis
de Guindos presents the ECB’s annual
report for 2018 to the Committee on
Economic and Monetary Affairs of the
1400 US ISM Manufacturing PMI March
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 = 6.7112 Chinese yuan renminbi)
Reporting by Mai Nguyen; Editing by Rashmi Aich