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Copper up for 4th session, zinc rises on China growth hopes

London copper rose for a fourth session on Tuesday, while zinc climbed 1.5 percent on expectations that Chinese data in the weeks ahead will show the economy in the world’s top metals consumer remained strong in April.

* COPPER: Three-month copper on the London Metal Exchange had climbed 0.5 percent to $6,857 a tonne by 0118 GMT, while the most-traded copper contract on the Shanghai Futures Exchange rose 0.2 percent to 51,210 yuan ($8,046.83) a tonne.

* ZINC: London zinc climbed for a second session, gaining 1.5 percent to $3,103 a tonne, and prices in Shanghai rose 1.2 percent to 23,855 yuan a tonne.

* TRADE TALKS: China’s top economic official will visit Washington next week to resume trade talks with the Trump administration, the White House said on Monday, after discussions in Beijing last week failed to produce agreement on a long list of U.S. trade demands.

* CHINA: Growth in China’s service sector picked up in April as new business and employment grew at a faster rate, a private survey showed on Friday, signalling a solid rise in a sector that Beijing is counting on to maintain economic growth.

* ECONOMIC DATA: A flurry of Chinese data in coming weeks is expected to show the world’s second-largest economy remained strong in April, underpinned by a pick-up in industrial output and a rebound in exports despite rising trade tensions with the United States.

* INTERNATIONALISATION: China plans to open more of its futures contracts to foreign investors, its securities regulator said on Friday, as Beijing launched its “internationalised” iron ore contract in a bid to boost its sway over pricing for one of its top imports.

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* Oil prices stood near their highest since late 2014 on Tuesday, ahead of an announcement by U.S. President Donald Trump on whether he would withdraw from a landmark nuclear deal with Iran, which stoked concerns about crude supply.

* Asian shares firmed slightly in early trade with technology stocks resilient after generally upbeat earnings despite weakness in the global smartphone market and concerns about more regulation.

DATA/EVENTS :: China Trade data Apr 0600 Germany Industrial output Mar 0600 Germany Trade data Mar 1000 U.S. NFIB business optimism Apr


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 = 6.3640 Chinese yuan renminbi)

Source: Reuters

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