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BEIJING - Copper and most other base metals gave up some of Monday's gains in early Asian trade on Tuesday, as doubts over whether China and the United States will be able to resolve their trade row within a 90-day timeframe came into focus.
Metals prices, weighed down by the trade dispute this year, had bounced on Monday after Washington and Beijing agreed to hold off on imposing further tariffs for 90 days.
However, it has since emerged that none of the commitments U.S. officials said had been given by China, including reducing its 40 percent tariffs on autos, were agreed to in writing and specifics have yet to be ironed out.
FUNDAMENTALS
* LME COPPER: Three-month copper on the London Metal Exchange slipped 0.5 percent to $6,265 a tonne as of 0152 GMT, after rising 1.6 percent in the previous session.
* SHFE COPPER: The most-traded January copper contract on the Shanghai Futures Exchange fell 0.3 percent to 49,850 yuan ($7,245.01) a tonne.
* COPPER PREMIUMS: Premiums for imports of copper into China, the world's biggest copper consumer, sank to an 18-month low on Monday in a sign that demand for physical metal is waning after a buying spree.
* OTHER METALS: Losses elsewhere in the base metals sector were capped at 0.5 percent, with Shanghai zinc and tin , and London lead and nickel all edging higher.
* GLENCORE: Glencore has appointed Peter Freyberg to the newly created role of head of industrial mining, the global trader and miner said, while its head of copper marketing
Telis Mistakidis retires at the end of the year.
* LITHIUM: China's Tianqi Lithium Corp has purchased a 23.77 percent share in Chilean lithium miner SQM from Canadian fertilizer giant Nutrien, the Chilean stock exchange said on Monday, for a total sale price of $4.066 billion.
* COLUMN: Trade war relief for metals, but bull-bear battle rages on: Andy Home
* For the top stories in metals and other news, click or
MARKETS NEWS
* Asian shares fell in early trade on Tuesday as a relief rally sparked by the truce in the U.S.-China trade war gave way to doubts on whether the two countries are able to resolve their differences before a 90-day deadline.
(Reporting by Tom Daly; Editing by Joseph Radford)
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