June 20, 2019 / 2:14 AM / a month ago

METALS-Copper rises as dollar weakens amid Fed rate cut prospects

SINGAPORE, June 20 (Reuters) - Copper prices rose on Thursday along with most other base metals as the U.S. dollar slipped on signals that the Federal Reserve was ready to lower interest rates to combat growing risks.

The Fed on Wednesday left interest rates unchanged as widely expected, but said the case for lower rates was building, suggesting it could ease monetary policy as early as next month amid rising trade tensions and concerns about weak inflation.

The dollar index eased against a basket of six major currencies on Thursday after losing more than 0.5% overnight, making dollar-denominated metals cheaper to import using other currencies.

FUNDAMENTALS

* Three-month copper on the London Metal Exchange was up 0.4% at $5,943 a tonne, as of 0155 GMT, while nickel advanced 0.4%, zinc edged up 0.1%, lead increased 0.3% and tin was up 0.5%.

* U.S. Trade Representative Robert Lighthizer said he expected to meet with Liu He, China’s vice premier and chief negotiator in the trade talks, in Osaka along with U.S. Treasury Secretary Steven Mnuchin before Trump’s meeting there with Xi.

* Upcoming trade talks between the leaders of China and the United States are unlikely to immediately resolve major disagreements between the two sides but could start a new phase in negotiations, Chinese state media said.

* A group of Chinese firms have jointly established a rare earths innovation centre in the country’s Hebei province as part of a plan to develop a manufacturing base in the region, according to the local government hosting the project.

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

MARKETS NEWS

* A gauge of global stock markets edged near this year’s peak while benchmark U.S. Treasury yields and the dollar dropped after the Federal Reserve signalled possible interest rate cuts later this year.

DATA/EVENTS (GMT)

0230 Japan Bank of Japan Governor Haruhiko Kuroda

speaks to reporters at the end of the

central bank policy meeting

:: Japan JP BOK Rate Decision

1100 UK BOE Bank Rate June

1100 UK GB BOE QE Corp June

1300 Russia Unemployment Rate May

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

Reporting by Mai Nguyen, Editing by Sherry Jacob-Phillips

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