MELBOURNE, March 5 (Reuters) - London copper climbed on Monday away from its lowest in a fortnight, as attention shifted
to upbeat comments at China's annual opening to parliament on economic growth and reform. FUNDAMENTALS: * London Metal Exchange copper rose by half a
percent to $6,930 a tonne by 0202 GMT, following losses of 0.4 percent on Friday. Prices are expected to recover as manufacturing demand cranks up into the seasonally strongest
second quarter. Prices hit $6,858.50 on Thursday, the weakest since Feb 13. * Shanghai Futures Exchange copper eased by 0.2
percent to 52,140 yuan ($8,237) a tonne on Monday. * ALUMINIUM: Some Chinese aluminium producers that shut smelters during a winter crackdown on pollution may not reopen
this spring once output curbs are lifted, as planned new capacity by state-run companies threatens to overwhelm demand and cut into profits.
* CURVE: LME aluminium spreads showed easing in supply tightness mid-year when more China production is expected to come online, though nearby spreads from cash to March signalled
severe supply stress. * CHINA: China must make strong efforts this year to keep foreign trade stable and improving, the country's top economic
planner said on Monday in a work report at the opening of the annual meeting of parliament. * CHINA ECON: China aims to expand its economy by around 6.5
percent this year, the same as in 2017, Premier Li Keqiang said in remarks prepared for delivery at the opening of the annual
meeting of parliament on Monday. * COPPER: Hedge funds and money managers cut their net long positions in COMEX gold and copper contracts in the week to Feb.
27, U.S. Commodity Futures Trading Commission data showed on Friday. * DRC: Democratic Republic of Congo President Joseph Kabila
will meet mining company representatives on Tuesday to discuss a mining code revision awaiting his signature that would raise
taxes and royalties, the mines minister said.
Cookie Consent Banner von Real Cookie Banner