HANOI, April 7 (Reuters) - Copper prices declined on
Wednesday as lower premiums and rising inventories underscored
weaker-than-expected demand pick-up in China during one of its
traditionally strong consumption season.
Three-month copper on the London Metal Exchange fell
0.2% to $9,026 a tonne by 0128 GMT, while the most-traded May
copper contract on the Shanghai Futures Exchange slid
0.1% to 67,150 yuan ($10,272.30) a tonne.
Yangshan copper premium <SMM-CUYP-CN> was last at $57 a
tonne, hovering around its lowest since Nov. 30, 2020,
indicating subdued demand for imported copper into China where
consumption is expected to be strong in the second quarter.
Meanwhile, inventories have been rising in LME and ShFE
warehouses. <MCUSTX-TOTAL> <CU-STX-SGH>
* LME aluminium fell 0.8% to $2,250.50 a tonne,
nickel declined 0.7% to $16,625 a tonne, while tin
rose 0.5% to 25,940 a tonne.
* ShFE aluminium declined 0.8% to 17,395 yuan a
tonne, tin dropped 0.5% to 184,930 yuan a tonne, while
zinc rose 0.3% to 21,845 yuan a tonne.
* Major tin producer Indonesia's PT Timah's 2021
refined tin output is seen falling 25.6% year-on-year to 34,000
tonnes, while sales of the product is set to fall 44.4% annually
to 31,000 tonnes this year, a company official said.
* Asia equities are set for a sluggish open after Wall
Street pulled back from record highs reached in previous
sessions, as investors eye the upcoming earnings season for more
signs of a recovery.
0600 UK Reserve Assets Total March
0750 France Markit Serv, Comp PMIs March
0755 Germany Markit Services PMI March
0755 Germany Markit Comp Final PMI March
0800 EU Markit Serv, Comp Final PMIs March
1430 US International Trade Feb
1800 Federal Open Market Committee will release the minutes
from its March 16 - 17 policy meeting
($1 = 6.5370 yuan)
(Reporting by Mai Nguyen; editing by Uttaresh.V)