SINGAPORE, July 10 (Reuters) - Most base metals price rose on Wednesday, following news that U.S. and Chinese trade officials marked a new round of talks with a “constructive” phone conversation.
White House economic adviser Larry Kudlow said the talks “went well” and the two sides were talking about a face-to-face meeting, but he warned there was no magic way to reach what has so far been an elusive deal.
London nickel rose as much as 2.1% to $12,970 a tonne, its highest since April 17, while Shanghai nickel jumped to 103,160 yuan ($14,985.69) a tonne, a three-month high.
* PRICES: London zinc rose 0.2% while copper was almost flat and aluminium fell 0.2%. In Shanghai, copper fell 0.9%, but aluminium was unchanged and tin rose 0.3%.
* HUAWEI: The U.S. government will issue licenses to companies seeking to sell goods to China’s Huawei where there is no threat to national security, Commerce Secretary Wilbur Ross said on Tuesday, in an effort to revive trade talks with China.
* NYRSTAR: Metals and mining company Nyrstar said on Tuesday that it was extending force majeure at its Port Pirie lead and zinc smelter in Australia until the last week of July, from the second week of this month as previously planned.
* LEAD: Shanghai lead hit a two-month high at 16,450 yuan a tonne, while London lead hovered around a one-week high, trading up 0.4% at 0203 GMT.
* BOSNIA ALUMINIUM: Bosnia’s sole aluminium smelter and one of the country’s biggest exporters was shut down on Wednesday over a huge debt it had incurred because of high electricity and alumina prices.
* COPPER: Southern Copper Corp said on Tuesday it received a construction permit for its long-delayed $1.4 billion Tia Maria copper mine project in Peru, but said work would not begin until it gains more support from local residents.
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* Asian shares inched ahead while higher Treasury yields lifted the dollar as markets wondered if the world’s most powerful central banker would confirm or confound expectations for U.S. policy easing this month.
0130 China PPI YY June
0130 China CPI YY June
0200 (approx) China Total Social Financing June
0200 (approx) China M2 money Supply YY June
0200 (approx) China New Yuan Loans June
0830 UK GDP Est 3M/3M May
0830 UK GDP Estimate MM May
0830 UK GDP Estimate YY May
0830 UK Manufacturing Output MM May
1200 Brazil IPCA Inflation Index MM June
1400 US Federal Reserve Chairman Jerome
Powell testifies on the Semiannual
Monetary Report to Congress before
the House Financial Services
1800 US Federal Open Market Committee will
release the minutes from its June
18-19, 2019 policy meeting
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 = 6.8839 Chinese yuan renminbi)
Reporting by Mai Nguyen; editing by Richard Pullin