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MELBOURNE - London metal prices eased on Monday alongside an uptick in the U.S. dollar and as ongoing global trade tensions cloud the outlook for demand.
FUNDAMENTALS
* COPPER: London Metal Exchange copper had edged down 0.2 percent to $6,291 a tonne by 0202 GMT, following a 1 percent gain in the previous session. Prices have traded in a $6,090-6,400 range for the past three weeks.
* SHFE: Shanghai Futures Exchange copper climbed 0.6 percent to 50,790 yuan ($7,340) a tonne.
* STOCKS: LME copper stocks have dropped since August as ShFE stocks have climbed, reflecting higher imports to the world's top metals consumer after a crackdown on waste imports that cut the availability of scrap metal.
* DOLLAR: The U.S. dollar firmed against the pound and euro on Monday as British efforts to secure a Brexit deal ahead of a key European Union summit fanned demand for safe-haven currencies.
* CHINA PROPERTY: China's property developers usually look forward to the months dubbed "Golden September and Silver October" as the high season for new home sales. This year is proving to be different, which may temper metals demand.
* SPREADS: Illustrating a significant shortfall in near-term supply, nearby prices to obtain lead and zinc over the next few months have surged over those further out.
* SHFE STOCKS: Zinc spreads are tightening as more metal arrives in warehouses in China. ShFE warehouse inventories showed that zinc arrivals jumped by 14,169 tonnes, or 48.5 percent, over the past two weeks to 43,373 tonnes.
Copper arrivals jumped by 12 percent, or 13,703 tonnes, to 125,700 tonnes. [CU-STX-SGH>]
* INVESTORS: Hedge funds and money managers increased their bearish wagers on Comex copper contracts in the week to Oct. 9, the U.S. Commodity Futures Trading Commission said on Friday.
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MARKETS NEWS
* Asian shares slipped on Monday as worries over Sino-U.S. trade disputes, a possible slowdown in the Chinese economy and higher U.S. borrowing costs tempered optimism despite a rebound in global equities late last week.
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 = 6.9191 Chinese yuan renminbi)
(Reporting by Melanie Burton Editing by Joseph Radford)
© Reuters News 2018