HANOI, Dec 5 (Reuters) - Industrial metals on the London Metal Exchange fell on Wednesday as U.S.-China trade tensions resurfaced, raising concerns over economic growth and demand.
U.S. President Donald Trump threatened to place “major tariffs” on Chinese goods imported into the United States if his administration is unable to reach an effective trade deal with Beijing.
But China said Beijing and Washington will push forward with trade negotiations in the next 90 days and it is confident that an agreement can be implemented.
* Three-month copper on the London Metal Exchange fell 0.3 percent to $6,189 a tonne by 0121 GMT, while the most-active contract on the Shanghai Futures Exchange lost 1.4 percent to 49,250 yuan ($7,206.30) a tonne.
* London aluminium fell 0.2 percent to $1,971 a tonne, while nickel eased 0.1 percent and zinc was 0.4 percent lower.
* TRADE: U.S. President Donald Trump on Tuesday held out the possibility of an extension of the 90-day trade truce with China but warned he would revert to tariffs if the two sides could not resolve their differences.
* U.S. DOLLAR: The greenback edged up on Wednesday, putting further pressure on London metals which are traded in dollars, as the commodities became more expensive for countries using other currencies.
* Nickel: Brazilian miner Vale SA, the world’s top nickel producer, plans to invest $500 million in its struggling New Caledonia nickel mine on its own after previously vowing to find a partner for the venture, reflecting its new understanding of the importance of an expected surge in electric vehicle sales.
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* Asian stocks fell on Wednesday, dragged by Wall Street’s tumble as sharp declines in long-term U.S. Treasury yields and resurgent trade concerns stoked investor worries about global economic growth.
0145 China Caixin services PMI Nov
0745 France Current account Oct
0850 France Markit services PMI Nov
0855 Germany Markit services PMI Nov
0900 Euro zone Markit services PMI final Nov
1000 Euro zone Retail sales Oct
1315 U.S. ADP national employment Nov
1500 U.S. ISM non-manufacturing PMI Nov
1900 Federal Reserve issues Beige Book of economic condition
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 = 6.8343 Chinese yuan)
Reporting by Mai Nguyen; Editing by Subhranshu Sahu