June 6, 2017 / 7:46 AM / 3 years ago

METALS-London copper eases for 3rd day on growth concerns

(Recasts on fall in copper prices, also updates other prices)

MELBOURNE/SINGAPORE, June 6 (Reuters) - London copper prices dipped for a third consecutive session on Tuesday, weighed down by signs of slowing growth in China and the United States.


* COPPER: London Metal Exchange copper had dropped 1.1 percent to $5,564 a tonne by 0731 GMT, following 0.7-percent losses in the previous session. Prices, which last week fell to the weakest in around a fortnight at $5,575 a tonne, have remained stuck in a range for the past month.

* SHANGHAI: Shanghai Futures Exchange copper closed 0.8 percent lower at 44,880 yuan ($6,603.79) a tonne. ShFE zinc fell 2.2 percent, tracking weakness in steel.

* US ECONOMY: U.S. services sector activity slowed in May as new orders tumbled, but a jump in employment to a near two-year high pointed to sustained labour market strength despite a deceleration in job growth last month.

* CHINA ECONOMY: China’s economy is likely to have remained on a stable footing in May, buoyed by solid gains in trade and investment as economic ties with the United States take a positive turn and infrastructure spending cushions domestic growth.

* ZAMBIA COPPER: Zambia has detained 31 Chinese nationals for illegal mining in the African country’s copper belt but has failed to provide strong proof of their crimes, a senior Chinese diplomat said as he lodged a complaint.

* TRADING PLATFORM: A new company, NFEx Markets, plans to launch a base metals trading platform in the first quarter of next year that will mimic the London Metal Exchange’s (LME) forward contracts, in an attempt to attract physical trade, the company said on Monday.

* GLOBAL MARKETS: Escalating tensions in the Middle East and the coming testimony of the former FBI director, British elections and a European Central Bank meeting all took their toll on oil, the dollar and Asian stocks on Tuesday.

* COMING UP: Euro zone Sentix Index for June at 0830 GMT and Euro zone retail sales at 0900 GMT.


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 = 6.7961 Chinese yuan renminbi)

Reporting by Melanie Burton and Naveen Thukral; Editing by Richard Pullin and Joseph Radford

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