SINGAPORE, May 22 (Reuters) – London copper rose for a second session on Tuesday and the market in Shanghai hit a one-week high, with prices underpinned as the chance of a U.S.-China trade war appeared to fade. Shanghai lead futures jumped 3.6 percent to their highest since October, tracking last session’s gains on the London Metal Exchange. FUNDAMENTALS: * COPPER: Three-month copper on the LME had risen 0.1 percent to $6,889 a tonne by 0133 GMT. The most-traded contract on the Shanghai Futures Exchange gained 0.3 percent to 51,460 yuan ($8,074.06) a tonne. * BACK FROM THE BRINK: Washington and Beijing both claimed victory on Monday as the world’s two largest economies stepped back from the brink of a global trade war and agreed to hold further talks to boost U.S. exports to China. * CHINA ECONOMY: China’s economy will likely expand by around 6.7 percent in the second quarter this year, the State Information Center said on Saturday. * LEAD: Shanghai lead futures jumped as much as 3.6 percent to their highest since October at 20,465 yuan a tonne, tracking gains in LME. * ALUMINIUM OUTPUT: Global primary aluminium output fell to 5.256 million tonnes in April from a revised 5.372 million tonnes in March, data showed.
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