BEIJING: London copper prices edged higher in early Asian trade on Wednesday, as a new blockade at MMG Ltd's Las Bambas mine in Peru lent support to prices, although gains were capped by ongoing US-China trade tensions.
An earlier road blockade at the site by an indigenous community in March and April disrupted the mine's copper concentrate exports and boosted copper prices.
FUNDAMENTALS
COPPER: Three-month copper on the London Metal Exchange inched up 0.1pc to $6,004.50 a tonne by 0225 GMT, after touching its lowest since Jan. 29 and ending down 0.6pc in the previous session.
The most-traded July copper contract on the Shanghai Futures Exchange fell 0.7pc to 47,410 yuan ($6,865.94) a tonne.
COPPER: An indigenous Peruvian community has imposed a new road blockade on MMG Ltd's Las Bambas mine, one of Peru's largest copper producers, after talks with the company over compensation broke down, a representative of the public ombudsman office said on Tuesday.
ALUMINIUM: LME aluminium was down 0.1pc at $1,795 a tonne after posting its lowest close since January 2017, on Tuesday.
ShFE aluminium fell for a third day, slipping as much as 0.9pc to 14,135 yuan, its lowest since May 10.
BRAZIL: Albras aluminium smelter in Brazil, partly owned by Norsk Hydro, started to ramp up its output on Tuesday after a Brazilian federal court lifted production restrictions at the Alunorte alumina plant.
BARRICK: Canadian miner Barrick Gold Corp said on Tuesday it has proposed to acquire all of the shares it does not already own in Acacia Mining Plc through a share-for-share exchange of 0.153 Barrick shares for each ordinary share of Acacia.
VEDANTA: A year after Indian police killed 13 people protesting against pollution from a copper smelter in this hardscrabble southern port city, tensions within the community and between residents and the police are still running high.
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