SINGAPORE, May 9 (Reuters) - London copper edged lower on
Thursday, giving up gains from the previous session when it
climbed to a more than three-week high on a string of promising
data that revived hopes for global economic growth.
Shanghai copper futures jumped 1 percent, tracking
Wednesday's gains in the London market.
* Three-month copper on the London Metal Exchange
slid 0.5 percent to $7,380 a tonne by 0100 GMT after hitting
$7,480 a tonne on Wednesday, its highest since April 12.
* The most-traded September copper contract on the Shanghai
Futures Exchange gained almost 1 percent to 53,190 yuan
* China's exports and imports grew more than expected in
April, offering the possibility of a better outlook for the
world's second-largest economy.
* Also helping boost sentiment was data showing German
industrial output unexpectedly rose in March, beating even the
highest forecast in a Reuters poll.
* The upbeat data followed last Friday's strong U.S.
payrolls, providing relief to markets rattled by a slew of soft
* China's copper arrivals fell 7.4 percent in April from a
month ago to hit a 22-month low, hurt by port strikes in Chile
and delays to shipments after the closure of India's biggest
* The market is also focused on supplies in India. Sterlite
Industries' smelter will stay shut until at least May
14 when an environmental court meets again to review the case, a
judge said on Wednesday, prolonging a six-week shutdown that has
pushed up copper concentrate processing fees in Asia.
* Refined tin shipments from Indonesia, the world's top
exporter of the metal, fell 15.5 percent in April to 7,853.09
tonnes from 9,295.7 tonnes in March, a trade ministry official
* For the top stories in metals and other news, click , or
* Encouraging global data and Wall Street's extended record
run underpinned Asian shares on Thursday, with Japanese stocks
leading the way to within striking distance of fresh five-year
* The euro held near a one-week high against the dollar and
two-month peaks on its Australian counterpart in early Asian
trade, having risen broadly after upbeat German factory activity
data bolstered sentiment.
0130 China CPI yy Apr
0130 China PPI yy Apr
1100 Britain BOE bank rate May
1230 U.S. Jobless claims Weekly
1430 U.S. EIA natural gas stocks Weekly
2350 Japan Bank lending yy Apr
Base metals prices at 0100 GMT
Metal Last Change Pct Move YTD pct chg
LME Cu 7380.00 -39.00 -0.53 -6.92
SHFE CU FUT SEP3 53190 510 +0.97 -7.78
HG COPPER JUL3 335.05 -2.00 -0.59 -8.27
LME Alum 1905.00 -3.00 -0.16 -8.02
SHFE AL FUT AUG3 14665 30 +0.20 -4.43
LME Zinc 1892.00 -2.00 -0.11 -8.31
SHFE ZN FUT AUG3 14665 -880 -5.66 -5.66
LME Nickel 15407.00 2.00 +0.01 -10.19
LME Lead 2057.00 -7.00 -0.34 -12.09
SHFE PB FUT 0.00 -14120.00 -100.00 -100.00
LME Tin 20745.00 0.00 +0.00 -11.35
LME/Shanghai arb^ -365
Shanghai and COMEX contracts show most active months
^ LME 3-month copper in yuan, including 17 pct VAT, minus SHFE third month
(Reporting by Naveen Thukral; Editing by Himani Sarkar)
Keywords: MARKETS METALS/
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