SINGAPORE, Nov 15 (Reuters) - Base metals prices in London broadly rose on Friday as signs of progress in the U.S.-China trade talks raised hopes for an interim deal that could help demand for industrial metals.
The United States and China are getting close to a trade agreement as talks are “very constructive”, White House economic adviser Larry Kudlow said on Thursday.
Three-month copper on the London Metal Exchange (LME) rose 0.6% to $5,844.50 a tonne by 0226 GMT, reversing a streak of five losses, while aluminium advanced 0.5%, zinc rallied 0.4% and lead increased 0.4%.
* COPPER STOCKS: Copper stocks on LME-approved warehouses fell to a five-month low, while inventories in warehouses tracked by the Shanghai Futures Exchange (ShFE) picked up last month but are still down 43% from a 2019 peak in March. MCUSTX-TOTAL CU-STX-SGH
* CHINA: China and the United States are holding “in-depth” discussions on a first phase trade agreement, and cancelling tariffs is an important condition to reaching a deal, the Chinese commerce ministry said on Thursday.
* ALUMINA: Aluminum Corp of China Ltd , known as Chalco, is set to make its first shipment from Boffa’s bauxite mine in Guinea by early-December, an official from state parent company Chinalco said on Thursday.
* SHFE PRICES: ShFE’s most-traded copper contract dipped 0.2% to 46,880 yuan ($6,702.79) a tonne, tracking losses overnight in London, aluminium eased 0.1%, nickel dropped 0.6% and lead declined 0.2%.
* For the top stories in metals and other news, click or
* Asian equities rose after the S&P 500 index notched a new record closing high, but investor sentiment remained fragile following weak data from China and Germany, which reinforced concerns about the global economy.
1000 EU HICP Final MM, YY Oct
1100 EU Reserve Assets Total Oct
1330 US Retail Sales MM Oct
1415 US Industrial Production MM Oct
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 = 6.9941 yuan Reporting by Mai Nguyen; Editing by Shailesh Kuber