BEIJING, Sept 13 (Reuters) - Shanghai copper prices rose
sharply to a near two-week high in early trade on Thursday after
a U.S. official said Washington had invited Beijing to restart
talks aimed at resolving their trade dispute.
The United States and China have so far imposed tariffs on
$50 billion of each other's goods in a spat that has left the
market fearing demand for industrial metals will weaken.
FUNDAMENTALS
* SHFE COPPER: The most-traded November copper contract on
the Shanghai Futures Exchange rose as much as 2.1
percent to 48,560 yuan ($7,098.17) a tonne, its highest since
Aug. 21, and stood at 48,440 yuan as of 0127 GMT.
* LME COPPER: Three-month copper on the London Metal
Exchange gained 0.1 percent to $6,004 a tonne, after
hitting its highest in more than a week in the previous session,
when it closed up 2.4 percent.
* TRADE: The Trump administration has invited Chinese
officials to restart trade talks, the White House's top economic
adviser said on Wednesday, as Washington prepares to escalate
the U.S.-China trade war with tariffs on $200 billion worth of
Chinese goods.
* NICKEL/ZINC: Shanghai nickel and zinc
were the other big gainers, rising as much as 3.1 percent and
2.3 percent, respectively, after big jumps in London on
Wednesday.
* NICKEL: Slower production increases in leading supplier
Indonesia and continued growth in stainless steel demand are
forecast to extend a supply shortage in the global nickel
market, supporting price gains through 2019.
* BROKER: Chinese conglomerate Fosun International
Ltd is in discussions to buy British-based commodities
broker Marex Spectron, two industry sources said.
* DRC: Democratic Republic of Congo's mines minister said on
Wednesday that a new mining code signed into law in March that
hikes royalties and taxes cannot be called into question.
