Dec 30 (Reuters) - Copper prices edged down in range-bound
Asian trading on Thursday as 2021 draws to a close, but
persisting concerns over supply propelled Shanghai aluminium to
a two-month high.
Three-month copper on the London Metal Exchange was
down 0.1% at $9,667 a tonne by 0333 GMT, after touching a
one-month high in the previous session.
The most-traded February copper contract on the Shanghai
Futures Exchange ended morning trade 0.4% lower at
69,970 yuan ($10,987.75) a tonne.
Shanghai aluminium rose as much as 3.6% to 20,585
yuan a tonne, its highest since Oct. 27, while LME aluminium
advanced 0.6% to $2,828.50 a tonne, after a two-day
decline.
FUNDAMENTALS
* China aims to cut energy consumption of steel by 2%, and
to lower carbon emissions in the aluminium sector by 5% by 2025,
the country's industry ministry said in a raw materials
development plan on Wednesday.
* Alcoa Corp reached a deal with workers to end
primary aluminium production at its San Ciprian facility in
Spain for two years, the Industry Ministry said on Wednesday, as
soaring European energy prices pressure heavy electricity users.
* Chilean miner Antofagasta PLC has agreed to
supply copper concentrate to some Chinese smelters at treatment
and refining charges of $65 a tonne and 6.5 cents per lb next
year, two sources with knowledge of the matter said.
* Peru's government is still far from reaching a deal that
would ensure the restart of MMG Ltd's huge Las Bambas
copper mine, a community advisor and a government source said on
Wednesday, a day before a crucial meeting with local communities
whose road blockade derailed the mining company's operations.
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MARKETS NEWS
* Asian share markets got off to a listless start on
Thursday as the spread of Omicron clouded what is the last
trading day of the year for many exchanges around the globe,
while oil was close to finishing 2021 with gains of more than
50%.
DATA/EVENTS
1330 US Initial Jobless Clm Weekly
PRICES
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
ARBS
($1 = 6.3680 yuan)
(Reporting by Enrico Dela Cruz in Manila; Editing by Devika
Syamnath)