METALS-London copper rebounds from over 1-week low on stimulus hopes

METALS-London copper rebounds from over 1-week low on stimulus hopes

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SINGAPORE, May 15 (Reuters) – Copper gained on Friday, with London prices rebounding from a more than one-week low hit in the previous session, on hopes that more stimulus to help global economies could boost demand for metals.

Three-month copper on the London Metal Exchange rose 1% to $5,255 a tonne by 0136 GMT, rebounding from a more than one-week low hit in the previous session. It was still on track for a weekly loss.

The most-traded copper contract on the Shanghai Futures Exchange advanced 0.5% to 43,230 yuan ($6,094.31) a tonne.

Copper prices were tracking Asian equities, which were set to advance amid optimism about the re-opening of the U.S. economy and possibly more stimulus.

U.S. President Donald Trump is open to negotiations on another possible stimulus bill, a White House spokeswoman said. China on Thursday had acknowledged the need for more fiscal stimulus to ease pressure on its economy.


* LEAD: French metals producer Recylex its Weser-Metall lead production plant in Germany had filed for insolvency amid falling metal demand.

* U.S.-CHINA: Trump suggested he could cut ties with the China, signalling a further deterioration in the relationship that could potentially hurt sentiment and raise fears of more tariffs along with impacting metals demand.

* OTHER PRICES: LME aluminium rose 0.6% to $1,484 a tonne and zinc advanced 0.5% to $1,967.50 a tonne. In Shanghai, aluminium gained 0.7% to 12,575 yuan a tonne, while nickel dropped 1% to 100,030 yuan a tonne.

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0200 China Urban Investment April

0200 China Industrial Output April

0200 China Retail Sales April

0600 Germany GDP Flash QQ SA, YY NSA Q1

0645 France CPI (EU Norm) Final MM, YY April

0900 EU GDP Flash Estimate QQ, YY Q1

1000 EU Reserve Assets Total April

1230 US Retail Sales MM April

1315 US Industrial Production MM April

1400 US U Mich Sentiment Prelim May

— Belgium Eurozone finance ministers hold a video

conference on the economic response to the

coronavirus crisis

— Germany Participation by ECB President Christine

Lagarde and ECB board member Fabio Panetta in

virtual Eurogroup 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 = 7.0935 yuan) (Reporting by Mai Nguyen; editing by Uttaresh.V)

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