December 7, 2018 / 1:47 AM / 3 days ago

METALS-London copper bounces from 3-week low amid talks of Fed pause

    MANILA, Dec 7 (Reuters) - London copper climbed more than 1
percent on Friday as reports that the U.S. Federal Reserve could
pause from raising interest rates helped the metal recover from
its steepest slide in five weeks in the prior session.    
    Three-month copper on the London Metal Exchange         was
up 1.1 percent at $6,139 a tonne, as of 0136 GMT. 
    The contract dropped 1.7 percent on Thursday, hitting its
weakest since Nov. 14 at one point, after the arrest of a top
Chinese executive in Canada dampened hopes for a resolution to
the U.S.-China trade conflict.
    The most-traded February copper on the Shanghai Futures
Exchange          was steady at 49,110 yuan ($7,137) a tonne.
    
    * FED PAUSE: The Wall Street Journal reported Fed officials
are considering whether to signal a new wait-and-see mentality
after a likely rate increase at their meeting in December,
spurring Asian equities higher.                         
    * HUAWEI: U.S. President Donald Trump did not know about
plans to arrest a top executive at Chinese telecoms giant Huawei
in Canada, two U.S. officials said, in an apparent attempt to
stop the incident from impeding crucial trade talks with
Beijing.             
    * CHILE DEAL: Chile's state copper miner Codelco reached
agreement on a new collective labor contract in early
negotiations with the union of workers at its Gabriela Mistral
mine in northern Chile.             
    * VEDANTA: An Indian court is expected on Friday to follow
an experts' panel recommendation and order the reopening of a
copper smelter closed after 13 people died when police fired on
environmental protesters in May.             
    * U.S. JOBS: U.S. Federal Reserve Chairman Jerome Powell
said the U.S. job market is very strong, a day ahead of the
release of non-farm payrolls, which economists said likely
increased by 200,000 in November after surging by 250,000 in
October.                          

    DATA AHEAD (GMT)
    0700  Germany             Industrial output           Oct
    0745  France              Industrial output           Oct
    0745  France              Trade data                  Oct
    1000  Euro zone           Revised GDP                 Q3
    1000  Euro zone           Employment                  Q3
    1330  U.S.                Nonfarm payrolls            Nov
    1330  U.S.                Unemployment rate           Nov
    1500  U.S.        Univ of Michigan sentiment index    Dec
    1500  U.S.                Wholesale sales             Oct   
    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                             
    
    ARBS
                
                
                
                
                

($1 = 6.8812 Chinese yuan)

    
 (Reporting by Manolo Serapio Jr., Editing by Sherry
Jacob-Phillips)
  
 
 
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