SINGAPORE: London copper prices rose for a second session on Monday to their highest since July on expectations of a trade agreement between Washington and Beijing.
FUNDAMENTALS
* Three-month copper on the London Metal Exchange was 0.3 percent higher at $6,494.50 a tonne by 0110 GMT, after climbing to its highest since early July at $6,508 a tonne.
* The most-traded copper contract on the Shanghai Futures Exchange added 1.3 percent to 50,350 yuan ($7,502.38) a tonne.
* President Donald Trump said on Friday there was "a very good chance" the United States would strike a deal with China to end their trade war and that he was inclined to extend his March 1 tariff deadline and meet soon with Chinese President Xi Jinping.
* U.S. and Chinese negotiators had made progress and will extend this week's round of negotiations by two days through Sunday, Trump told reporters at the White House as he met with his top negotiators and their counterpart, Chinese Vice Premier Liu He.
* On-warrant LME copper inventories <MCUSTX-TOTAL>, those not earmarked for delivery, slumped by nearly half to 39,800 tonnes in one day, the lowest since August 2005, LME data showed on Friday.
* Chile's Mines Minister Baldo Prokurica on Friday maintained the government's 2019 copper price prediction of $3.05 per pound, amid optimism about U.S.-China trade talks underway in Washington.
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MARKETS NEWS
* Asian share markets looked well set on Monday after U.S. President Donald Trump confirmed he would delay a planned tariff increase on Chinese imports as talks between the two sides were making "substantial progress".
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