July 6, 2017 / 6:19 AM / 3 years ago

METALS-London copper steadies near 1-wk low, Chile strike worries support

 (Updates prices)
    By Melanie Burton
    MELBOURNE, July 6 (Reuters) - London copper steadied on
Thursday near one-week lows, underpinned by a weaker dollar and
the threat of strikes at mines in Chile. 
   "Rallies remain short-lived, with investors reluctant to
chase prices higher until there is evidence that markets are
tightening significantly," ANZ said in a report 
    * LME COPPER: London Metal Exchange copper had edged
up 0.1 percent to $5,849.50 a tonne by 0730 GMT. Prices fell 0.9
percent on Wednesday to hit their lowest since June 27 at
    * SHFE COPPER: Shanghai Futures Exchange copper
slipped 0.5 percent to 46,960 yuan ($6,903) a tonne.
    * STRIKES: Chile's Antofagasta Minerals said this
week that it was facing potential strikes from workers at two
    * U.S. ECONOMY: 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.
    * NORTH KOREA: The United States cautioned on Wednesday it
was ready to use force if need be to stop North Korea's nuclear
missile programme, but said it preferred global diplomatic
action against Pyongyang.
    * DRC: The 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.

    * BAUXITE: 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       
    * MARKETS: Most Asian stock markets fell on Thursday after
the release of the Fed minutes, while oil prices inched higher
following a steep decline a day earlier.    
    *COMING UP  U.S. ISM non-manufacturing PMI Jun at 1400 GMT 
 BASE METALS PRICES                  0730 GMT        
 Three month LME copper                          5849
 Most active ShFE copper                        46960
 Three month LME aluminium                     1929.5
 Most active ShFE aluminium                     14210
 Three month LME zinc                            2787
 Most active ShFE zinc                          22960
 Three month LME lead                            2279
 Most active ShFE lead                          17575
 Three month LME nickel                          9130
 Most active ShFE nickel                        75210
 Three month LME tin                            19680
 Most active ShFE tin                          143830
 BASE METALS ARBITRAGE                               
 LME/SHFE COPPER             LMESHFCUc3        537.48
 LME/SHFE ALUMINIUM          LMESHFALc3        -1069.
 LME/SHFE ZINC               LMESHFZNc3        231.19
 LME/SHFE LEAD               LMESHFPBc3        -1405.
 LME/SHFE NICKEL             LMESHFNIc3        2619.8

($1 = 6.8027 Chinese yuan renminbi)

 (Reporting by Melanie Burton; Editing by Richard Pullin and
Joseph Radford)
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