March 20, 2018 / 2:18 AM / 8 months ago

METALS-LME copper slips for fourth day ahead of Fed meeting

    BEIJING, March 20 (Reuters) - London Metal Exchange (LME)
copper prices lost ground for the fourth session on Tuesday,
tracking a fall in equities as investors trimmed positions ahead
of a Federal Reserve meeting starting later in the day, while
the dollar edged upwards. 
    A stronger dollar makes metals more expensive for holders of
other currencies and can weigh on prices. 
        
    FUNDAMENTALS
    * LME COPPER: Three-month copper on the LME had
fallen 0.3 percent to $6,836 a tonne by 0154 GMT, extending a
0.5-percent dip from the previous session.
    * SHE COPPER: The most-traded May copper contract on the
Shanghai Futures Exchange was down for a third straight
day, falling by 0.6 percent to 51,290 yuan ($8,109.48) a tonne.
    * SHFE ALUMINIUM: Aluminium, the only base metal in positive
territory in Shanghai, was up 0.1 percent at 14,020
yuan a tonne, following warnings of bauxite shortages in China
from state-backed Chinese research house Antaike.
    * ALUMINIUM: Japanese trade minister Hiroshige Seko said on
Tuesday that there was a high possibility Japan would be
exempted from U.S. tariffs on steel and aluminium on a per-item
basis.
    * MONGOLIA: Switzerland's highest court has upheld the
seizure of $1.85 million in Swiss bank accounts, part of a
corruption probe linked to a former Mongolian finance minister
who helped clear the way for a disputed Rio Tinto mining
project, a ruling showed.
    * COBALT: Nervous Asian battery makers are turning to
early-stage cobalt projects in Australia and Canada to lock in
supplies of the critical battery ingredient ahead of expected
shortages as demand for electric vehicles revs up.
    * For the top stories in metals and other news, click       
 or     
        
    MARKETS NEWS    
    * Asian shares fell on Tuesday as investors dumped
high-flying U.S. technology shares on fears of stiffer
regulation as Facebook came under fire following reports it
allowed improper access to user data.  
 
        
    PRICES 
    
 BASE METALS PRICES                       0154 GMT
 Three month LME copper                       6836
 Most active ShFE copper                     51290
 Three month LME aluminium                  2089.5
 Most active ShFE aluminium                  14020
 Three month LME zinc                         3237
 Most active ShFE zinc                       24735
 Three month LME lead                         2362
 Most active ShFE lead                       18350
 Three month LME nickel                      13530
 Most active ShFE nickel                    102320
 Three month LME tin                             0
 Most active ShFE tin                       144170
                                                  
 BASE METALS ARBITRAGE                            
 LME/SHFE COPPER              LMESHFCUc3   1011.96
 LME/SHFE ALUMINIUM           LMESHFALc3  -1323.67
                                          
 LME/SHFE ZINC                LMESHFZNc3    477.45
 LME/SHFE LEAD                LMESHFPBc3    226.12
 LME/SHFE NICKEL              LMESHFNIc3   1099.64
                                          
 

($1 = 6.3247 Chinese yuan renminbi)

    
 (Reporting by Tom Daly
Editing by Joseph Radford)
  
 
 
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