MANILA, Aug 22 (Reuters) - London copper edged lower on Wednesday ahead of trade talks between the United States and China, with U.S. President Donald Trump playing down hopes for near-term progress and saying resolving the dispute will take time.
Trump told Reuters in an interview on Monday that he had “no time frame” for ending the trade dispute with China, which threatens to impose tariffs on virtually all goods traded between the world’s two largest economies.
Three-month copper on the London Metal Exchange was off 0.2 percent at $6,030.50 a tonne by 0142 GMT. The most-traded October copper on the Shanghai Futures Exchange rose 0.2 percent to 48,560 yuan ($7,064) a tonne.
* TRADE TALKS: The meetings, expected to take place on Wednesday and Thursday in Washington, are the first formal U.S.-China trade talks since June, when U.S. Commerce Secretary Wilbur Ross met Chinese economic adviser Liu He in Beijing but returned with no agreements.
* CHINA STIMULUS: China’s central bank said it will not resort to strong stimulus to support the slowing economy, but will keep liquidity reasonably ample and offer more help to companies which are having trouble obtaining financing.
* SERBIA MINE: Three companies from Canada, China and Russia have bid for a strategic partnership in RTB Bor, Serbia’s only copper mine and smelter. Serbia’s government has said it was seeking a partner to invest at least $350 million in debt-laden RTB Bor but did not say how big a stake it would offer in return.
* SAMARCO DELAY: There is little likelihood that Brazil’s Samarco iron ore mine, a joint venture between Vale SA and BHP Billiton, will restart operations next year even though it expects to have all of the required licenses.
1400 U.S. Existing home sales Jul
1800 Minutes of Federal Reserve’s for July 31-Aug 1 meeting
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 = 6.8740 Chinese yuan)
Reporting by Manolo Serapio Jr.; editing by Richard Pullin