April 21, 2017 / 2:00 AM / 4 months ago

METALS-Zinc leads lift in China metals futures

SYDNEY, April 21 (Reuters) - Zinc led an across-the board rise in Shanghai base metals futures on Friday on the back of robust gains in overnight London trading and buoyant equity markets.

FUNDAMENTALS

* The most-traded zinc contract on the Shanghai Futures Exchange climbed more than 3 percent to 21,915 yuan ($3,184) a tonne.

* Three-month zinc on the London Metal Exchange was slightly weaker at $2,621 a tonne, but mostly maintaining gains from the London session, where the contract was the biggest riser with a jump of 3.2 percent.

* Indonesian workers at American mining giant Freeport McMoran Inc. will stage a month-long protest starting May 1 against layoffs, as the company ramps down production in the midst of a contract dispute with the Indonesian government.

* Diversified miner Vedanta said its 500,000 tonne aluminium smelter in the eastern state of Odisha was hit by a power outage this week that damaged over one-third of its processing capacity.

* Total aluminium production in top producer China in March rose to 2.707 million tonnes last month from 2.534 million in February, data from the International Aluminium Institute (IAI) showed on Thursday.

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MARKETS NEWS

* Asian stocks rose, lifted by bets on strong U.S. earnings and U.S. tax reform, while the euro retreated from a three-week high as jitters returned over the first round of French presidential elections on Sunday after a shooting in Paris. * The dollar was little changed against a basket of six major currencies at 99.815, after the latest data on U.S. jobless claims and business activity in the mid-Atlantic region did not change traders' views of modest U.S. economic growth and low inflation.

DATA/EVENTS 0700 France Markit manufacturing flash PMI Apr 0730 Germany Markit manufacturing flash PMI Apr 0800 Euro zone Markit manufacturing flash PMI Apr 0800 Euro zone Markit services flash PMI Apr 0830 Britain Retail sales Mar 1345 U.S. Markit manufacturing flash PMI Apr 1345 U.S. Markit services flash PMI Apr 1400 U.S. Existing home sales Mar 1400 G20 Finance Ministers and Central Bank Governors meeting in Washington (to April 22)

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

($1 = 6.8831 Chinese yuan renminbi)

Reporting by James Regan; Editing by Kenneth Maxwell

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