MELBOURNE, Jan 10 (Reuters) - London copper steadied on
Thursday, with investors biding time ahead of Chinese trade data
that could show exports recovered in December but was also
expected to reveal lower copper imports due to ample stockpiles
in the world's top metals consumer.
* Three-month copper on the London Metal Exchange
was unchanged at $8,080 a tonne by 0137 GMT from the previous
session where it finished unchanged.
* Prices have built a base above the $8,000 mark this year,
but have struggled to find traction since hitting a two-and-a
half-month high of $8,256.50 a tonne on Jan. 3, the loftiest
since Oct. 18.
* The most traded April copper contract on the Shanghai
Futures Exchange was also little changed at 58,320 yuan
($9,400) a tonne.
* China's export growth probably rebounded from three-month
lows in December, although the recovery is likely to remain
shallow due to weak demand in the United States and Europe, the
country's two biggest customers.
* China's imports of crude oil, iron ore and soybeans are
expected to have risen in December as confidence in the economy
grew and buyers stocked up for 2013, but copper purchases likely
fell as year-end demand dwindled while local output stayed
* The European Central Bank is expected to keep interest
rates at a record low of 0.75 percent on Thursday, refraining
from a cut as the euro zone economy shows some signs of
stabilising and inflation still tops its target.
* First Quantum Minerals Ltd launched on Wednesday a
hostile takeover bid for smaller rival Inmet Mining Corp , as the Canadian base metal miner looks to transform
itself into a top global copper producer.
* For the top stories in metals and other news, click , or
* The yen was on the defensive near a 2-1/2-year low on
Thursday on expectations Bank of Japan policy will take a fresh
and bold approach to boost inflation later this month.
* Asian shares steadied on Thursday following an overnight
rise in global equities on early optimism about U.S. earnings,
but investors remained cautious ahead of China's trade data and
the European Central Bank meeting later in the day.
N/A - China Exports Year on Year for Dec
N/A - China Imports Year on Year for Dec
N/A - China Trade balance for Dec
0500 - Japan Leading Indicator For November
0745 - France Industrial Output For November
0745 - France CPI For December
1200 - Bank Of England Rate Decision For January
1245 - European Central Bank Rate Decision
1330 - ECB President Mario Draghi Holds News Conference
1330 - U.S. Weekly Jobless Claims
1500 - Wholesale Inventories For November
Base metals prices at 0137 GMT
Metal Last Change Pct Move YTD pct chg
LME Cu 8080.00 0.00 +0.00 1.90
SHFE CU FUT APR3 58320 -20 -0.03 1.11
HG COPPER MAR3 367.45 0.40 +0.11 0.60
LME Alum 2080.25 0.25 +0.01 0.45
SHFE AL FUT MAR3 15245 00 +0.00 -0.65
LME Zinc 2023.75 6.75 +0.33 -1.93
SHFE ZN FUT APR3 15450 -95 -0.61 -0.61
LME Nickel 17523.00 3.00 +0.02 2.15
LME Lead 2320.00 5.00 +0.22 -0.85
SHFE PB FUT 15120.00 -5.00 -0.03 -0.85
LME Tin 24500.00 -150.00 -0.61 4.70
LME/Shanghai arb^ 656
Shanghai and COMEX contracts show most active months
($1 = 6.2262 Chinese yuan)
(Reporting by Melanie Burton; Editing by Muralikumar
((firstname.lastname@example.org)(+65 6870 3017)(Reuters
Keywords: MARKETS METALS/
(Reuters 3000Xtra subscribers can access Metals Production Database by clicking on URL below http://mpd.session.rservices.com For related news and prices, click on the codes in brackets: LME price overview COMEX copper futures Base metals news All metals news All commodities news Metals diary Foreign exchange rates SPEED GUIDES)
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