London copper dropped nearly 1 percent on Monday while London nickel jumped in volatile trade as Chinese markets returned from an extended autumn break.
FUNDAMENTALS
* Three-month copper on the London Metal Exchange had fallen 0.8 percent to $4,751 a tonne by 0116 GMT, after closing little changed in the previous session.
* Prices had hit their highest in more than three weeks on Friday at $4,794.50 a tonne, and have marked out a new floor around the 100-day moving average, last at $4,740.
* Shanghai Futures Exchange copper rallied 1.4 percent to 37,160 yuan ($5,571) a tonne.
* LME nickel jumped 2.2 percent to $9,940 a tonne, paring last week's losses of 6.2 percent as investors rushed to cover short positions. LME zinc climbed around 1 percent.
* The U.S. Federal Reserve is set for a lively debate in the coming week and could give a clear signal of an interest rate rise to come even if it follows market expectations for a pause this month.
* Hedge funds and money managers reduced their net short positions in COMEX copper contracts in the week to Sept. 13, U.S. Commodity Futures Trading Commission data showed on Friday.
* Business confidence among entrepreneurs in China has picked up for the second quarter in a row in 2016, according to surveys by the People's Bank of China published on Sunday.
* Anglo American said on Friday it had reached a wage agreement with two unions at its flagship Los Bronces copper mine in central Chile, ending a strike that began a week ago.
* Russian aluminium giant Rusal 0496.HK expects aluminium prices to stabilise within a $1,600-1,700 per tonne range next year if China does not increase production, global stocks keep falling and demand grows.
* For the top stories in metals and other news, click or
MARKETS NEWS
* Caution gripped Asian shares on Monday ahead of central bank meetings in the United States and Japan this week, while oil prices bounced on talk of an OPEC deal on output and reports of fighting around Libyan oil ports.
DATA AHEAD (GMT)
0130 China House prices Aug
0800 Euro zone Current account Jul
1400 U.S. NAHB housing market index Sep
FUNDAMENTALS
* Three-month copper on the London Metal Exchange had fallen 0.8 percent to $4,751 a tonne by 0116 GMT, after closing little changed in the previous session.
* Prices had hit their highest in more than three weeks on Friday at $4,794.50 a tonne, and have marked out a new floor around the 100-day moving average, last at $4,740.
* Shanghai Futures Exchange copper rallied 1.4 percent to 37,160 yuan ($5,571) a tonne.
* LME nickel jumped 2.2 percent to $9,940 a tonne, paring last week's losses of 6.2 percent as investors rushed to cover short positions. LME zinc climbed around 1 percent.
* The U.S. Federal Reserve is set for a lively debate in the coming week and could give a clear signal of an interest rate rise to come even if it follows market expectations for a pause this month.
* Hedge funds and money managers reduced their net short positions in COMEX copper contracts in the week to Sept. 13, U.S. Commodity Futures Trading Commission data showed on Friday.
* Business confidence among entrepreneurs in China has picked up for the second quarter in a row in 2016, according to surveys by the People's Bank of China published on Sunday.
* Anglo American said on Friday it had reached a wage agreement with two unions at its flagship Los Bronces copper mine in central Chile, ending a strike that began a week ago.
* Russian aluminium giant Rusal 0496.HK expects aluminium prices to stabilise within a $1,600-1,700 per tonne range next year if China does not increase production, global stocks keep falling and demand grows.
* For the top stories in metals and other news, click or
MARKETS NEWS
* Caution gripped Asian shares on Monday ahead of central bank meetings in the United States and Japan this week, while oil prices bounced on talk of an OPEC deal on output and reports of fighting around Libyan oil ports.
DATA AHEAD (GMT)
0130 China House prices Aug
0800 Euro zone Current account Jul
1400 U.S. NAHB housing market index Sep
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