BEIJING: London copper prices edged lower in early Asian trade on Thursday as the dollar strengthened, while investors awaited news from U.S.-China trade talks restarting in Beijing.
A strong greenback makes dollar-denominated metals more expensive for holders of other currencies and weighs on prices.
FUNDAMENTALS
* COPPER: Three-month copper on the London Metal Exchange fell 0.2 percent to $6,321.50 a tonne by 0204 GMT, after eking out a 0.1 percent gain in the previous session. The most-traded May copper contract on the Shanghai Futures Exchange was down 0.1 percent at 48,330 yuan ($7,172) a tonne.
* TC/RCs: The 10-member China Smelters Purchase Team (CSPT) will meet in Shanghai on Thursday to determine floor treatment and refining charges (TC/RCs) for copper concentrate in the second quarter.
* COPPER: CSPT member Jiangxi Copper Co, said on Wednesday 2018 net profit rose 52.4 percent year on year as a hedging gain boosted its bottom line in a poor year for copper prices.
* USD: The dollar rose on Thursday as many of its peers weakened after more central banks opted to shift to a dovish policy stance in the wake of deteriorating economic prospects.
* OTHER METALS: Shanghai zinc rose as much as 1.4 percent to 22,615 yuan a tonne, extending the one-year high it hit on Wednesday as LME zinc stocks <MZN-STX> fell to just 55,225 tonnes. In London, zinc, nickel and aluminium were all down 0.6 percent, while lead nudged up 0.5 percent.
* NICKEL: Indonesia's nickel-related industries such as the production of stainless steel and battery materials are set to surpass the value of its second-biggest export earner, palm oil, in the next 10 to 15 years, its investment board chief said on Wednesday.
* VALE: Brazilian iron ore miner Vale on Wednesday announced a series of writedowns and provisions related to the Brumadinho tailings dam collapse that killed some 300 people two months ago, saying there would be an affect on future results.
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MARKETS NEWS
* Asian share markets were painted red as recession concerns sent bond yields spiralling lower across the globe, overshadowing central bank attempts to calm frayed nerves.
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