March 13, 2018 / 2:01 AM / 6 days ago

METALS-Shanghai aluminium slips below 14,000 yuan a tonne on oversupply fears

    BEIJING, March 13 (Reuters) - Shanghai aluminium prices
dipped below the 14,000 yuan ($2,213) a tonne mark for the first
time in over a year on Tuesday, as the end of winter output
restrictions on Chinese smelters from March 15 threatens to
flood the market.
    * SHFE ALUMINIUM: The most traded May aluminium contract
 on the Shanghai Futures Exchange (ShFE) was down 1.3
percent at 13,940 yuan at 0141 GMT. It early touched 13,910 a
tonne, its lowest since Jan. 10, 2017.
    * LME ALUMINIUM: Three-month aluminium on the London
Metal Exchange (LME) gained 0.3 percent to $2,098 a tonne, after
closing down 1.4 percent in the previous session, its lowest in
almost three months.
    * COPPER: Three-month copper on the LME rose 0.3
percent to $6,934 a tonne, partially reversing a 0.7 percent
fall on Monday after a rise in LME inventories. ShFE copper was
trading flat at 52,030 yuan a tonne.
    * CHINA MINISTRIES: Top metals consumer China said it will
merge its banking and insurance regulators and create a new
agricultural and rural village ministry, a parliament document
released on Tuesday showed, among a number of proposed changes
in the biggest ministry shake-up in years.
    * CANADA: Canadian Prime Minister Justin Trudeau promised
aluminum and steelworkers on Monday he would defend them against
possible U.S. tariffs and called U.S. President Donald Trump to
stress that "mutually beneficial" cross-border supply chains
should be preserved.
    * JAPAN: Some Japanese aluminium buyers have agreed to pay a
premium of $129 per tonne for shipments from global producers in
the April to June quarter, reflecting soaring U.S. spot
premiums, two sources directly involved in the pricing talks
said on Monday.
    * SERBIA:  China's Zijin Mining Group has expressed interest
in buying loss-making Serbian copper miner and smelter RTB Bor,
which the Balkan state has been trying to sell for the past
    For the top stories in metals and other news, click       
    * Asian stocks stalled on Tuesday, halting an earlier rally
after Wall Street shares lost steam, while the dollar sagged on
the back of declining U.S. yields.
    1000  U.S.    NFIB business optimism index Feb
    1230  U.S.     Consumer prices Feb
    1500  U.S.        Cleveland Fed CPI Feb
 BASE METALS PRICES                         0141 GMT
 Three month LME copper                         6934
 Most active ShFE copper                       52030
 Three month LME aluminium                      2098
 Most active ShFE aluminium                    13940
 Three month LME zinc                           3265
 Most active ShFE zinc                         25085
 Three month LME lead                           2349
 Most active ShFE lead                         18230
 Three month LME nickel                        13770
 Most active ShFE nickel                      104350
 Three month LME tin                               0
 Most active ShFE tin                         146510
 BASE METALS ARBITRAGE                              
 LME/SHFE COPPER               LMESHFCUc3     985.67
 LME/SHFE ALUMINIUM            LMESHFALc3   -1473.67
 LME/SHFE ZINC                 LMESHFZNc3     610.99
 LME/SHFE LEAD                 LMESHFPBc3     179.98
 LME/SHFE NICKEL               LMESHFNIc3    1482.41
($1 = 6.3270 Chinese yuan renminbi)

 (Reporting by Tom Daly; editing by Richard Pullin)
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