June 27, 2017 / 7:48 AM / 3 years ago

METALS-Copper prices turn higher in late Asia trading

 (Recasts on higher copper prices)
    By James Regan
    SYDNEY, June 27 (Reuters) - A late buying spurt by investors
betting copper prices had reached a low point for the day pushed
the metal into positive territory in late Asian trading on
Tuesday.
    "We saw a fair bit of buying on the dips today," said a
trader in Perth, declining to be identified as he was not
authorised to speak with media.
    Copper prices were earlier pressured by news that new orders
for key U.S.-made capital goods fell unexpectedly in May,
suggesting a loss of momentum in the manufacturing sector.

    FUNDAMENTALS
    * LME COPPER: Three-month copper on the London Metal
Exchange         stood 0.5-percent firmer at $5,823 a tonne at
0524 GMT, reversing losses from the previous session.
    * SHFE COPPER: The most-traded copper contract on the
Shanghai Futures Exchange          ended 0.39-percent higher at
46,720 yuan ($6,844) a tonne.
    * CHINA INDUSTRIAL EARNINGS: Profits earned by China's
industrial firms in May rose 16.7 percent from a year earlier,
the statistics bureau said on Tuesday, quickening from the
previous month.             
    * JAPANESE ALUMINIUM: Japanese aluminium buyers have agreed
to pay producers a premium of $118 to 119 per tonne for metal
shipped during the July to September quarter, reflecting weaker
spot premiums, five sources directly involved in the quarterly
pricing talks said.             
    * PHILIPPINES MINING: The new Philippines environment
minister may decide next month on the fate of dozens of mining
operations and contracts that his predecessor ordered closed,
suspended or cancelled to protect watersheds and other natural
resources.             
    * MONGOLIA VOTES: There was no outright winner in Mongolia's
presidential election on Monday, forcing the country's first
ever second-round run-off between the two leading candidates,
the country's General Election Committee said of Tuesday.
            
    * 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 = 6.8262 Chinese yuan renminbi)

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