LME copper news-prices supported by upbeat Japan manufacturers

MELBOURNE, June 20 (Reuters) – London copper traded little changed on Tuesday, supported by upbeat sentiment over the global economy after confidence at Japanese manufacturers rebounded, but prices were capped by a stronger dollar. FUNDAMENTALS * LME COPPER: London Metal Exchange copper traded little changed at $5,719 a tonne by 0140 GMT, following a 1 percent gain in the previous session. Prices have found support around $5,645 a tonne and a ceiling around $5,800 a tonne.


* SHFE COPPER: Shanghai Futures Exchange copper was up 0.8 percent at 45,940 yuan ($6,734) a tonne. * JAPAN ECONOMY: Confidence among Japanese manufacturers bounced in June to match a decade-high level recorded in April and is expected to rise for several months, a Reuters survey found, providing more evidence of economic recovery.


* INFRASTRUCTURE: State-owned China Railway Group has signed a $2.5 billion memorandum of understanding with Russia to build a high-speed railway in the country, the China Daily reported on Tuesday.

* NOBLE: A four-month credit extension for cash-strapped Noble Group Ltd sent the commodity trader’s shares up almost 50 percent on Monday, though traders, analysts and industry sources warned the reprieve was likely to be only temporary.

* Japan’s copper cable shipments, including sales and exports, in May rose 3 percent from a year earlier to 50,700 tonnes on an estimated basis, the Japan Electric Wire and Cable Makers’ Association said. * For the top stories in metals and other news, click or MARKETS NEWS


* Japan’s Nikkei rose more than 1 percent to hit a near two-year high on Tuesday following a rebound in U.S. hi-tech shares as investors bet on solid growth in the economy and corporate profits globally.


DATA AHEAD (GMT) 0600 Germany Producer prices May 0800 Euro zone Current account Apr 1230 U.S. Current account Q1 BASE METALS PRICES 0138 GMT Three month LME copper 5719.5 Most active ShFE copper 45940 Three month LME aluminium 1887 Most active ShFE aluminium 13845 Three month LME zinc 2559


Most active ShFE zinc 21420 Three month LME lead 2138 Most active ShFE lead 17515 Three month LME nickel 9020 Most active ShFE nickel 74490 Three month LME tin 0 Most active ShFE tin 144070 BASE METALS ARBITRAGE LME/SHFE COPPER LMESHFCUc3 424.76 LME/SHFE ALUMINIUM LMESHFALc3 -1118.09 LME/SHFE ZINC LMESHFZNc3 451.23 LME/SHFE LEAD LMESHFPBc3 -253.16 LME/SHFE NICKEL LMESHFNIc3 2092.15 ($1 = 6.8222 Chinese yuan renminbi)

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