Wednesday , April 14 2021

METALS-U.S.-China trade tensions press on copper | Metals and Mining



SINGAPORE, Nov 20 (Reuters) – London's copper prices fell on Tuesday, after a five-session strike, as conflicting signs over the trade dispute between the United States and China had pushed the feeling.

There are deep divisions between Washington and Beijing in a summit of Asia-Pacific leaders in Papua New Guinea on Sunday having temperate expectations of a decision in the U.S-China trade war.

The Asia Pacific Pacific Pacific Cooperation (APEC) fails to agree common in some countries as "protecting" protection and trying to give their views on others, a Chinese senior diplomat said Monday.

"Trade tension … continues to be the head of the sector. The failure of countries at the APEC meeting to agree to a joint statement raises concerns that the relationship between China and the US continues hostile, "said ANZ in note.

FUNDAMENTALS

* A three-month copper on the London Metal Exchange dropped 0.3 percent to $ 6,240 per tonne by 0131 GMT. Shanghai's biggest trading copper contract increased by 0.4 per cent to 49,880 yuan ($ 7,183.59) tonnes.

* US-CHINA: The US Ministry of Foreign Affairs said on Monday the United States, whose delegation in the summit led by Vice President Mike Pence, has attended APEC in "a flame of anger", and that China had not gone in to boxing ".

The inflamed rhetoric is in front of the next important international summit, the Argentine G20 that starts at the end of the month, where the President of the U.S. Donald Trump and Chinese President Xi Jinping meet.

* Nickel: A Brazilian court has ordered the SA Valley, one of the world's top nickel manufacturers, to stop its mining or nickel iron in its Onça Puma unit and pay compensation to two indigenous loads in the area.

* Prices: London aluminum up 0.1 per cent to $ 1936,5 per tonne, while nickel rose 0.3 percent on Monday closing in almost a sink, fell 0.3 percent.

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MARKETS NEWS

* Asian stock markets slipped on Tuesday, extending sudden losses overnight on Wall Street as technology companies spoiled the worries about falling demand, while the dollar scored after US weak data grew up in confidence the currency.

AHEAD DATA (GMT)

0700 Germany Producer prices Duration

1330 houses in the US starting October

1330 USA Building licenses October

PRICES

Copper three months LME

The most active copper of ShFE

Aluminum LME three months

Aluminum ShFE most active

Sinc three months LME

Most active ShFE sink

LME leader three months

ShFE leader most active

Nicel LME three months

Nickel ShFE most active

Tun three months LME

Most ShFE active stain

ARBS ($ 1 = 6.9436 yuan)

Report by Mai Nguyen; Edited by Amrutha Gayathri


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