BEIJING, Dec 13 (Reuters) - London copper prices touched
their highest in more than a week on Thursday amid signs China
is keeping promises made to the United States as part of a deal
to resolve a trade row between the world's top two economies.
Chinese companies have made their first major purchases of
U.S. soybeans — a commodity at the heart of the trade spat — in
more than six months, Reuters reported on Wednesday, while
Beijing also appeared to have toned down a high-tech industrial
push that has long irked Washington.
"Signs of positive progression in trade talks between the
U.S. and China should see sentiment in the commodity market
remain positive," ANZ wrote in a note.
FUNDAMENTALS
* LME COPPER: Three-month copper on the London Metal
Exchange climbed as much as 0.9 percent to $6,197.50 a
tonne, the highest since Dec. 5 and reversing a 0.5 percent drop
in the previous session.
* SHFE COPPER: The most-traded February copper contract on
the Shanghai Futures Exchange shrugged off an early dip
to end the morning up 0.3 percent at 49,390 yuan ($7,186.61) a
tonne.
* OPEN INTEREST: Market open interest in ShFE copper fell to
483,788 lots on Wednesday, the lowest since February 2017, on
end-of-year short covering.
* TRADE: China appears to be easing its high-tech industrial
development push, dubbed "Made in China 2025," amid talks
between the two countries to reduce trade tensions, according to
new guidance to local governments.
* CHILE: BHP said on Wednesday a deal to
sell its Cerro Colorado copper mine in Chile to private equity
fund EMR Capital had been called off because of problems with
financing.
* OTHER METALS: LME zinc gained the most from easing
trade tensions, rising as much as 1.5 percent to $2,609 a tonne.
* NICKEL: Greece is trying to avert the possible closure of
Europe's biggest nickel producer Larco and is looking at ways to
ensure there are no interruptions to its electricity supply, the
country's energy ministry said on Wednesday.
