June 1, 2020 / 1:55 AM / a month ago

METALS-Copper gains as Trump's Hong Kong response less severe than feared

SINGAPORE, June 1 (Reuters) - Copper prices rose on Monday as U.S. President Donald Trump’s response to a China’s security legislation on Hong Kong was not as severe as the market had expected.

Trump on Friday ordered the process of eliminating special U.S. treatment for Hong Kong but did not mention any action that would undermine the U.S.-China Phase 1 trade deal.

Markets had feared any tariff row would undermine the already dampened global economy and further weaken the metal’s demand.

Three-month copper on the London Metal Exchange climbed 1.2% to $5,440 a tonne by 0135 GMT, while the most-traded July copper contract on the Shanghai Futures Exchange jumped 1.4% to 44,400 yuan ($6,241.65) a tonne.


* CHILE COPPER: Chile produced 474,880 tonnes copper in April, up 2.8% year-on-year, despite restrictions to tame the coronavirus outbreak.

* CHINA PMI: China’s factory activity grew at a slower pace in May but momentum in the services and construction sectors quickened.

* For the top stories in metals and other news, click or


* Asian share markets started on a cautious note and gold gained as images of riots in burning U.S. cities unnerved investors already tense over Washington’s power struggle with Beijing.


0145 China Caixin Mfg PMI Final May

0500 India HIS Markit Mfg PMI May

0755 Germany Markit/BME Mfg PMI May

0800 EU Markit Mfg Final PMI May

0830 UK Markit/CIPS Mfg Final PMI May

1345 US Markit Mfg Final PMI May

1400 US ISM Manufacturing PMI May


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

$1 = 7.1135 yuan Reporting by Mai Nguyen; Editing by Rashmi Aich

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