Company News

METALS-London copper shrugs off firmer dollar as China demand supports

    MELBOURNE, Dec 4 (Reuters) - London copper held its ground
on Monday, defying a stronger dollar to find support from
resilient manufacturing demand in top consumer China. 
    * COPPER: London Metal Exchange copper edged up by
0.1 percent to $6,841 a tonne by 0228 GMT, adding to 1.1 percent
gains from the previous session. Prices last week fell by 2.4
percent trimming copper's advance for the year to 23 percent,
still its largest advance since 2010.
    * SHFE: Shanghai Futures Exchange copper rose by 1
percent to 53,360 yuan ($8,066) a tonne.
    * CHINA ECONOMY: China's manufacturing activity remained in
expansion mode but grew at the weakest pace in five months in
November as input costs remained high and tougher pollution
measures weighed on business confidence.
    * RIO TINTO: Rio Tinto Ltd ended months of
speculation on Monday, naming Simon Thompson as its next
chairman to succeed Jan du Plessis, who will step down after
serving almost nine years as chair of the Anglo-Australian
mining house.
    * CHINA: Rio also pointed to a possible slowing in China
over the next six months, with a weakening in construction,
infrastructure and automotive demand growth, but said it remains
optimistic about China in the medium to long term.
    * ADANI: Industrial and Commercial Bank of China (ICBC)
601398.SS, said on Sunday it has no intention of
financing a controversial A$16.5 billion ($12.5 billion)
Australian coal mine being built by Indian conglomerate Adani
Enterprises ADEL.NS.
    * CHINA ALUMINIUM: China's central Shanxi province has
introduced new rules curbing water use for steel, cement and
aluminium production, state media reported on Sunday, in another
blow to sectors reeling from government-enforced output cuts.
    * INVESTORS: Hedge funds and money managers raised their net
long positions in COMEX gold and copper contracts in the week to
Nov. 28, U.S. Commodity Futures Trading Commission (CFTC) data
showed on Friday.
    * In other metals, LME aluminium,, zincand
lead all slipped around half a percent, paring strong
advances on Friday. 
    * For the top stories in metals and other news, click       
    *  The U.S. dollar bounced to a two-week top on Monday as
traders celebrated the passage of a Senate tax bill over the
weekend, while stronger U.S. stock futures pointed to a merry
start for Asian shares.    
    0930   Euro zone Sentix index Dec
    1000   Euro zone Producer prices Oct
    1445   U.S. ISM-New York index Nov
    1500   U.S. Factory orders Oct    
 BASE METALS PRICES                 0245 gmt         
 Three month LME copper                          6840
 Most active ShFE copper                        53370
 Three month LME aluminium                       2065
 Most active ShFE aluminium                     14495
 Three month LME zinc                            3227
 Most active ShFE zinc                          25605
 Three month LME lead                          2536.5
 Most active ShFE lead                          19070
 Three month LME nickel                         11340
 Most active ShFE nickel                        91720
 Three month LME tin                                0
 Most active ShFE tin                          141330
 BASE METALS ARBITRAGE                               
 LME/SHFE COPPER               LMESHFCUc3      595.49
 LME/SHFE ALUMINIUM            LMESHFALc3     -1289.1
 LME/SHFE ZINC                 LMESHFZNc3      243.84
 LME/SHFE LEAD                 LMESHFPBc3     -1147.7
 LME/SHFE NICKEL               LMESHFNIc3     2752.71

($1 = 6.6151 Chinese yuan renminbi)

 (Reporting by Melanie Burton; editing by Richard Pullin)