BEIJING, June 6 (Reuters) - Shanghai base metals rose on
Wednesday, with copper and lead gaining ground on fears of a
supply squeeze, while nickel and zinc tracked the ferrous
complex higher following an explosion at an iron ore mine in
China.
FUNDAMENTALS
* SHFE COPPER: The most-traded July copper contract on the
Shanghai Futures Exchange rose as much as 1.8 percent
to 53,020 yuan ($8,294.35) a tonne, its highest since March 7,
on concerns over supply disruption at the world's biggest copper
mine.
* LME COPPER: Three-month copper on the London Metal
Exchange was flat at $7,099 a tonne by 0157 GMT, after
rising to its highest since Feb. 27. It gained 1.8 percent on
Tuesday.
* OTHER METALS: Shanghai lead rose as much as 1.9
percent to an 18-month high of 20,780 yuan a tonne after a
crackdown on recycling in China, while zinc climbed 2.5
percent and nickel gained 2.7 percent.
* CHINA BLAST: An explosion at an iron ore mining project in
China's northeastern province of Liaoning on Tuesday has killed
11 people and injured nine, state media said. Dalian iron ore
prices rose as much as 3 percent in early trade.
* TARIFFS: Mexico put tariffs on American products ranging
from steel to pork and bourbon on Tuesday, retaliating against
import duties on metals imposed by President Donald Trump and
taking aim at Republican strongholds ahead of U.S. congressional
elections in November.
* LITHIUM: Chilean lithium miner SQM,
has retained former chairman Julio Ponce as an adviser,
according to Chilean state development agency Corfo, despite an
agreement to distance himself from the firm to end a
long-running royalties dispute.
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MARKETS NEWS
* Asian stocks edged up on Wednesday after tech sector
strength lifted Wall Street shares, while concerns about Italy's
debt prompted investors to move into lower-risk government debt
elsewhere, pushing U.S. Treasury yields down from recent highs.
