December 22, 2017 / 2:48 AM / 3 months ago

METALS-London copper slips as supply concerns ease

    BEIJING, Dec 22 (Reuters) - London copper prices edged lower
on Friday to reverse gains made the session before, with wage
agreements at mines in Chile easing concerns about disruptions
to supply from the world's top producer of the metal.
    * LME COPPER: Three-month copper on the London Metal
Exchange (LME) had slipped 0.5 percent to $7,050.50 a tonne by
0217 GMT. It gained 0.6 percent in Thursday's session, during
which it touched its highest in nearly two months.
    * SHFE COPPER: The most-traded February copper contract
 on the Shanghai Futures Exchange (ShFE) was flat at
54,260 yuan ($8,248.96) a tonne.
    * ALUMINIUM: LME aluminium was down 0.4 percent at
$2,139 a tonne on end-of-year profit-taking after a week-long
rally triggered by lower production in China. ShFE aluminium
 was down 0.2 percent.  
    * TECK: Canadian miner Teck Resources and the
union representing 105 workers at its Quebrada Blanca copper
mine in Chile said on Thursday they had reached a new wage
agreement, ending an eight-day strike. 
    * ANTOFAGASTA: Chilean miner Antofagasta Plc said
on Wednesday it had reached a new wage agreement with unionized
workers at its Centinela mine, defusing the risk of a strike
amid a volatile labour landscape.
    * ALASKA: The would-be developer of the widely opposed
Pebble Mine copper and gold project in salmon-rich southwestern
Alaska announced on Thursday it will file its first application
for a permit.
    * AFRICA: With some mining companies increasingly reluctant
to own outright the infrastructure that keeps their projects
going, an African development institution is linking up with
investment funds to help fill the gap. 
    * STAINLESS: Global production of stainless steel rose 7.4
percent in the first nine months of the year versus the same
period a year ago, with China driving the gains, according to
the International Stainless Steel Forum.   
    * UNITED STATES: U.S. Interior Secretary Ryan Zinke on
Thursday launched an effort to reduce U.S. dependence on foreign
supplies of critical minerals used in smartphones, computers and
military equipment, which he said poses a national security and
economic risk.        
    * COLUMN: Blue skies, green cars and a year of revolution
for industrial metals: Andy Home.
    * For the top stories in metals and other news, click       
    * Asian stocks edged up on Friday on new data pointing to
steady growth in the U.S. economy, while the euro slipped after
a vote in Catalonia favoured separatists wanting to break away
from Spain. 
    DATA AHEAD (GMT)        
    0930    U.K. GDP Q3
 BASE METALS PRICES                        0217 GMT
 Three month LME copper                     7050.50
 Most active ShFE copper                      54260
 Three month LME aluminium                     2139
 Most active ShFE aluminium                   14655
 Three month LME zinc                          3227
 Most active ShFE zinc                        25460
 Three month LME lead                          2495
 Most active ShFE lead                        19035
 Three month LME nickel                       12000
 Most active ShFE nickel                      95550
 Three month LME tin                          19375
 Most active ShFE tin                        137540
 BASE METALS ARBITRAGE                             
 LME/SHFE COPPER              LMESHFCUc3     193.66
 LME/SHFE ALUMINIUM           LMESHFALc3   -1675.33
 LME/SHFE ZINC                LMESHFZNc3     327.75
 LME/SHFE LEAD                LMESHFPBc3    -846.47
 LME/SHFE NICKEL              LMESHFNIc3    2024.31

($1 = 6.5778 Chinese yuan renminbi)

 (Reporting by Tom Daly; Editing by Joseph Radford)
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