Copper falls from 3-week top on concerns over China growth

PHOTO

SINGAPORE - London copper prices slid on Monday, on course to fall for the first time in five sessions amid concerns over slowing economic growth in top industrial metals consumer China.

China is expected to report on Monday that economic growth cooled to its slowest in 28 years in 2018 amid weakening domestic demand and bruising U.S. tariffs, adding pressure on Beijing to roll out more support measures to avert a sharper slowdown.

FUNDAMENTALS

* Three-month copper on the London Metal Exchange had dropped 0.4 percent to $6,028 a tonne by 0132 GMT, while the most-traded copper contract on the Shanghai Futures Exchange added 0.7 percent to 47,950 yuan ($7,075.92) a tonne.

* LME copper climbed to its highest since Dec. 28 on Friday on signs the trade dispute between the United States and China could be easing.

* U.S. President Donald Trump said on Saturday there has been progress toward a trade deal with China, but denied that he was considering lifting tariffs on Chinese imports.

* The Wall Street Journal reported on Thursday that U.S. Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports.

* For the top stories in metals and other news, click or

MARKETS NEWS

* Asian markets were in limbo early on Monday ahead of the Chinese data.

DATA/EVENTS (GMT) 0200 China Urban Investment (y-to-y) Dec 0200 China Industrial Output Dec 0200 China Retail Sales Dec 0200 China GDP Q4 0700 Germany Producer Prices Dec 1300 Russia PPI Dec

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