HANOI, Jan 15 (Reuters) – Shanghai copper and aluminium inched down on Tuesday after weak Chinese trade data disappointed investors, although metals traded in London drew some support from U.S. President Donald Trump’s comments on reaching a trade deal with China.
Trump on Monday predicted Washington would reach a deal with China to end a tit-for-tat trade war, saying Beijing wants to negotiate and that talks are going well.
FUNDAMENTALS
* The most-traded Shanghai copper contract had fallen 0.4 percent to 46,850 yuan ($6,923.51) a tonne by 0119 GMT, on track for its third consecutive decline. Shanghai aluminium dropped as far as its lowest since September 2016 at 13,230 yuan a tonne.
* Three-month copper on the London Metal Exchange rose 0.4 percent to $5,920 a tonne, reversing losses from the previous session, while London aluminium edged up 0.1 percent to $1,830.5 a tonne.
* The U.S. Senate will begin voting on Tuesday on a resolution criticising the Trump administration’s decision to ease sanctions on companies linked to Russian oligarch Oleg Deripaska, including aluminium giant Rusal.
