June 18, 2018 / 1:52 AM / 2 years ago

METALS-London copper near 2-week low amid China holiday

    MELBOURNE, June 18 (Reuters) - London copper slipped on
Monday and touched a near two-week low hit in the previous
session on pressure from a stronger dollar, while a holiday in
China drained buying interest from the market. 
    * COPPER: London Metal Exchange copper eased by 0.2
percent on Monday to $7,006.50 by 0118 GMT, following losses of
2.2 percent in the previous session. It earlier touched a near
two-week low of $6,996 first hit on Friday.
    * HOLIDAY: The Shanghai Futures Exchange was closed on
Monday for a holiday. 
    * INVESTORS: Hedge funds and money managers raised their net
long positions in COMEX copper in the week to June 12, by 28,941
contracts to 77,740 contracts, U.S. Commodity Futures Trading
Commission (CFTC) data showed on Friday. This was the strongest
net long position since January.
    * STERLITE: A minor leak has been detected in the sulphuric
acid storage plant in Vedanta's south Indian copper
smelter, a government official said on Sunday, about a month
after the state ordered its shutdown after protests in which 13
people died.
    * ALUMINIUM: LME aluminium, which hit its weakest in
seven weeks at $2,200.50 a tonne on Friday, recaptured the
100-day moving average as it traded at $2215.
    * METALS DEMAND: Japan's exports rose in May at the fastest
pace in four months thanks to increased shipments of cars, car
parts, and semiconductor equipment in a sign that global demand
is gaining strength.
    * COBALT: Panasonic Corp expects to more than
triple its cobalt consumption in five years' time, industry
sources said, even as the company aims to develop cobalt-free
automotive batteries in the near future. [nL8N1TD4SB
    * For the top stories in metals and other news, click       
    * Asian shares retreated on Monday after U.S. President
Donald Trump cranked up trade tensions with China by going ahead
with tariffs on Chinese imports, prompting Beijing to
immediately respond in kind.    
    0130  China House prices May
    0600  Germany Wholesale price index May
    0900  Euro zone Eurostat trade Apr
    1230  U.S. New York Fed manufacturing Jun
    1315  U.S. Industrial production May
    1400  U.S. University of Michigan sentiment index Jun    
 BASE METALS PRICES                           0120 GMT        
 Three month LME copper                                 7006.5
 Most active ShFE copper                                     0
 Three month LME aluminium                              2214.5
 Most active ShFE aluminium                                  0
 Three month LME zinc                                   3079.5
 Most active ShFE zinc                                       0
 Three month LME lead                                     2402
 Most active ShFE lead                                       0
 Three month LME nickel                                  15190
 Most active ShFE nickel                                     0
 Three month LME tin                                     20765
 Most active ShFE tin                                        0
 BASE METALS ARBITRAGE                                        
 LME/SHFE COPPER                        LMESHFCUc3           0
 LME/SHFE ALUMINIUM                     LMESHFALc3           0
 LME/SHFE ZINC                          LMESHFZNc3           0
 LME/SHFE LEAD                          LMESHFPBc3           0
 LME/SHFE NICKEL                        LMESHFNIc3           0
 (Reporting by Melanie Burton; Editing by Subhranshu Sahu)
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