METALS-London zinc eases for 3rd session, copper falls on trade woes


 Feb 12 (Reuters) - London zinc prices lost more ground on
Tuesday, falling for a third consecutive session on concerns
over U.S.-China trade dispute and slowing global economic
growth, while copper dropped for a fourth straight session. FUNDAMENTALS * Three-month zinc on the London Metal Exchange was
down 0.6 percent at $2,627.50 a tonne, as of 0149 GMT, and
prices in Shanghai dropped 1.3 percent to 21,560 yuan a
tonne. * LME copper dipped 0.2 percent to $6,138 a tonne
and Shanghai copper lost 0.1 percent to $48,310 a
tonne. * U.S. and Chinese officials expressed hopes on Monday that
a new round of talks would bring them closer to easing their
seven-month trade war, but a U.S. Navy mission through the
disputed South China Sea cast a shadow over the negotiations in
Beijing. * China expressed anger on Monday at the mission through the
disputed South China Sea after U.S. President Donald Trump said
last week that he did not plan to meet with Chinese President Xi
Jinping before a March 1 deadline for a trade deal. * Chinese investors, returning on Monday after a week-long
Lunar New Year holiday, seemed to focus more on downbeat news
rather than optimism expressed by China about a new round of
trade talks with the United States. * There was further pressure on copper prices after Chilean
state miner Codelco said on Saturday it hoped to restart
operations soon at its Chuquicamata copper mine. * For the top stories in metals and other news, click or MARKETS NEWS * Asian shares barely budged on Tuesday with investors
looking to a new round of Sino-U.S. trade talks as the world's
two largest economies try to resolve a tariff dispute that has
put a dent on global growth and corporate earnings. DATA/EVENTS (GMT)
0030 Australia Housing Finance Dec
1200 India Industrial Output Dec
1500 US JOLTS Job Openings Dec PRICES 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 (Reporting by Naveen Thukral, Editing by Sherry Jacob-Phillips) 

Leave a Reply