MELBOURNE, Sept 18 (Reuters) - London copper hit a more than
two-year high on Friday, buoyed by a weaker dollar and strong
fund buying on hopes that Chinese stimulus would spur demand in
the world's biggest metals consumer.
* LME COPPER: London Metal Exchange copper was up
0.7% at $6,828 a tonne by 0304 GMT, after hitting $6,850, its
highest level since June 2018 earlier in the session.
* SHFE COPPER: Shanghai Futures Exchange copper
rose by 1.3% to touch a four-session high of 52,140 yuan
($7,718) a tonne.
* DOLLAR: The dollar was steady in early Asia trading after
falling overnight as downbeat U.S. data cast a shadow over the
economic outlook. A weaker dollar makes it cheaper to buy metals
in other currencies.
* U.S. JOBS: Overnight data showed recovery in the U.S.
labour market stalling and Wall Street indexes fell for a second
straight session amid disappointment that the Federal Reserve
made no new monetary easing commitments at its meeting this
* OTHER METALS: LME zinc rose by 1.2% to $2,542 a
tonne, set to hit peaks last seen in May 2019 if prices surpass
the Sept. 1 peak of $2,583. LME aluminium rose 0.5% to
$1,790. LME nickel was up 0.1% at $15,100 a tonne and
lead rose 0.3% to $1,915. LME tin eased 0.3% to
$18,145 a tonne.
* COPPER: Demand for refined copper in China continues to
ease, with premiums falling $4.50 to $59, data showed overnight,
extending a decline from highs of $100 six weeks ago. That is
the lowest since the start of April. <0#BASEBW-SHMET>
* China premiums are expected to fall further before
seasonal demand picks up towards the end of the month, broker
Triland said in a report, citing ample stocks in the country
after high imports. Overall copper interest remained weak, it
* LME cash copper prices have traded around $25 higher than
three months prices in the backwardated market structure that
suggests low copper stocks in markets outside of China.
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* Asian stocks inched up on Friday, despite Wall Street
declines, but struggled to make deeper gains as worries about a
faltering economic recovery kept investors to the sidelines or
seeking safer harbour in assets such as the Japanese yen.
Three month LME copper
Most active ShFE copper
Three month LME aluminium
Most active ShFE aluminium
Three month LME zinc
Most active ShFE zinc
Three month LME lead
Most active ShFE lead
Three month LME nickel
Most active ShFE nickel
Three month LME tin
Most active ShFE tin
($1 = 6.7557 Chinese yuan renminbi)
(Reporting by Melanie Burton; Editing by Rashmi Aich)