LME Lead price today-Most active ShFE lead trading at 17440$

London copper steadied on Thursday near one-week lows as the dollar eased back from highs triggered by a Federal Reserve meeting that clouded the outlook for the pace of future interest rate rises. FUNDAMENTALS * London Metal Exchange copper edged up by 0.1 percent to $5,845 a tonne by 0255 GMT. Prices fell 0.9 percent on Wednesday when they hit $5,815 which was the lowest since June 27.

 

* Shanghai Futures Exchange copper slipped by 0.8 percent to 46860 yuan ($6,888.95) a tonne. * Volumes were exceedingly low with less than 1000 lots of the benchmark LME copper contract having changed hands. * Federal Reserve policymakers were increasingly split on the outlook for inflation and how it might affect the future pace of interest rate rises, according to the minutes of the Fed’s last policy meeting on June 13-14 released on Wednesday.

 

* The United States cautioned on Wednesday it was ready to use force if need be to stop North Korea’s nuclear missile program but said it preferred global diplomatic action against Pyongyang. * Chinese private equity firm GSR Capital is looking to buy a substantial holding in Chile’s Sociedad Quimica Y Minera (SQM) , one of the world’s biggest lithium producers, according to two sources with knowledge of the matter. * Democratic Republic of Congo plans to impose harsher punishments on mining companies that fail to repatriate at least 40 percent of their revenue from mineral exports, central bank governor Deogratias Mutombo said on Wednesday. * A year and a half after banning bauxite mining to force miners to meet environmental standards, Malaysia’s exports to main customer China are again growing, raising public anger over illegal mining.

 

* For the top stories in metals and other news, click or MARKETS NEWS * Asian shares were tentative on Thursday after minutes from the Federal Reserve’s last meeting showed a lack of consensus on the future pace of interest rate increases, while oil prices inched higher following the previous day’s steep declines. DATA/EVENTS 0600 Germany Industrial orders for May 1215 U.S. ADP national employment Jun 1230 U.S. International trade May 1230 U.S. Weekly jobless claims 1400 U.S.

ISM non-manufacturing PMI Jun PRICES BASE METALS PRICES Three month LME copper 5844 Most active ShFE copper 46830 Three month LME 1924 aluminium Most active ShFE 14225 aluminium Three month LME zinc 2762 Most active ShFE zinc 22860

Three month LME lead 2267.5 Most active ShFE lead 17440 Three month LME nickel 9125 Most active ShFE nickel 75000 Three month LME tin 19715 Most active ShFE tin 144120 BASE METALS ARBITRAGE LME/SHFE COPPER LMESHFCUc3 432.64

LME/SHFE ALUMINIUM LMESHFALc3 -1014.53 LME/SHFE ZINC LMESHFZNc3 253.05 LME/SHFE LEAD LMESHFPBc3 -1386.3 LME/SHFE NICKEL LMESHFNIc3 2485.8

 

-reuters

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