June 14, 2017 / 7:58 AM / 3 years ago

METALS-Copper prices ease ahead of U.S. Fed outlook

 (Updates prices)
    By By James Regan
    SYDNEY, June 14 (Reuters) - Copper prices eased on
Wednesday, with investors cautious ahead of the outcome of a
two-day meeting where the U.S Federal Reserve is expected to
hike interest rates and give clues on its policy outlook for the
rest of the year.
    The U.S. central bank is scheduled to release its interest
rate decision at 1800 GMT on Wednesday at the conclusion of its
policy meeting. Fed Chair Janet Yellen is due to hold a press
conference at 1830 GMT.
    The timing and pace of further U.S. tightening could set the
course for base metal prices in coming months, according to
analysts.
    
    FUNDAMENTALS
    * LONDON COPPER: Three-month copper on the London Metal
Exchange         was down $1 at $5,716 a tonne, by 0740 GMT,
extending losses from the previous session.
    * SHANGHAI COPPER: The most-traded copper contract on the
Shanghai Futures Exchange          closed 0.24 percent lower at
45,960 yuan ($6,761) a tonne.
    * ELECTRIC CARS: The growing number of electric vehicles
hitting roads is set to fuel a nine-fold increase in copper
demand from the sector over the coming decade, according to an
industry report.             
    * China's aluminium production rose 4.2 percent year-on-year
in May to hit its second-highest level on record, while
non-ferrous metal output rose 2.4 percent to 4.58 million tonnes
data from the National Bureau of Statistics showed on Wednesday.
    * QATAR: Qatar's Qatalum aluminium plant is now exporting
metals via ports in Kuwait and Oman, as well as a Qatari
container port, following a diplomatic row with neighbours that
had blocked shipments.             
     NICKEL: LME nickel         rebounded by 2 percent to $8,860
a tonne, recouping overnight losses.
    * For the top stories in metals and other news, click       
          or             
        
    PRICES    
    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 = 6.7976 Chinese yuan)

    
 (Reporting by James Regan; Editing by Joseph Radford and Sherry
Jacob-Phillips)
  
 
 
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