September 18, 2017 / 7:29 AM / in 3 years

METALS-Copper rises from near-one month low, China's growth concerns cap gains

(Recasts with market turning higher, adds quote)

SINGAPORE, Sept 18 (Reuters) - London copper rose on Monday for a second straight session as the market recovered from last week’s near one-month low although concerns over slowing growth in top consumer China capped gains.

* LME COPPER: Three-month copper on the London Metal Exchange rose $39.5, or 0.6 percent, to $6,546.50 a tonne by 0711 GMT after dropping on Thursday to $6,452.50 a tonne, the weakest since Aug. 18.

* SHFE COPPER: The most-traded copper contract on the Shanghai Futures Exchange closed up 300 yuan, or 0.6 percent, at 50,700 yuan ($7,733) a tonne.

* CHINA DATA: China posted disappointing data on Thursday - including its slowest growth in investment in nearly 18 years - suggesting the world’s second-largest economy is finally starting to lose some momentum as borrowing costs rise.

* ANALYST: Still, analysts expected demand for metals in China to remain strong.

“Last week we saw some decline in prices so there should be a correction,” said Meng Jie Wu, an analyst at CRU in Shanghai.

“Chinese demand is likely to improve because downstream manufactures have started to restock. Inventories are declining.”

* CHINA CRACKDOWN: China’s non-ferrous metal output fell to a one-year low in August, in a sign that Beijing’s environmental crackdown is curbing supplies of base metals, with aluminium also hit by efforts to rein in output.

* NORTH KOREA: North Korea’s nuclear threat looms large this week over the annual gathering of world leaders at the United Nations in New York, where diplomats are eager to hear U.S. President Donald Trump address the 193-member body for the first time.

* LME INVENTORIES: Inventories in LME-registered warehouses registered their biggest weekly inflow since May, rising 67,600 tonnes to 276,025 tonnes and putting pressure on prices. MCUSTX-TOTAL


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


($1 = 6.5563 Chinese yuan)

Reporting by Naveen Thukral; Editing by Michael Perry

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