BEIJING, March 16 (Reuters) - Copper prices fell on Friday
as the dollar strengthened ahead of next week's Federal Open
Market Committee meeting, at which the U.S. central bank is
expected to raise interest rates for the first time this year.
A stronger greenback makes metals more expensive for holders
of other currencies and can weigh on prices.
FUNDAMENTALS
* LME COPPER: Three-month copper on the London Metal
Exchange was down 0.1 percent at $6,914 a tonne by 0210
GMT, extending a 1 percent loss in the previous session. It is
on course for a 0.7 percent weekly drop.
* SHFE COPPER: The most-traded May copper contract on the
Shanghai Futures Exchange was down 0.8 percent to
51,960 yuan ($8,206) a tonne but on track for a weekly gain of
0.8 percent.
* NICKEL: Shanghai nickel was the biggest loser in
early trade, slipping 1 percent to 103,060 yuan a tonne but
still up 2.2 percent for the week.
* COPPER: The Democratic Republic of Congo is considering
adding copper to its list of strategic minerals in a move that
would extract higher fees from mining companies, an adviser to
the prime minister said on Thursday.
* ALUMINIUM: The U.S. International Trade Commission said on
Thursday it had made a final finding that imports of aluminium
foil from China hurt U.S. producers, a move that locks in place
hefty duties of up to 188 percent on Chinese exporters.
* ALUMINA: Norsk Hydro Asa sees securing
alternative sources of alumina to replace reduced supplies at
its Brazilian plant as a priority, Chief Executive Svein Richard
Brandtzaeg told Reuters.
* TARIFFS: U.S. Commerce Secretary Wilbur Ross and European
Trade Commissioner Cecilia Malmstrom have agreed to meet next
week in an attempt to resolve a deepening dispute over trade
tariffs, a European Commission source said on Thursday.
* For the top stories in metals and other news, click
or
MARKETS NEWS
* Asian stocks were on the defensive on Friday as worries
over the U.S. investigation into the Trump Organization tested
investor nerves, already frayed by fears U.S. tariffs could hurt
the global economy and trigger a trade war.
DATA AHEAD (GMT)
0700 Germany Wholesale price index Feb
1000 Euro zone Labour costs Q4
1230 U.S. Housing starts Feb
1230 U.S. Building permits Feb
1315 U.S. Industrial production Feb
1400 U.S. University of Michigan sentiment index Mar
PRICES
BASE METALS PRICES 0200 GMT
Three month LME copper 6905
Most active ShFE copper 51840
Three month LME aluminium 2088
Most active ShFE aluminium 13970
Three month LME zinc 3227
Most active ShFE zinc 24875
Three month LME lead 2401
Most active ShFE lead 18505
Three month LME nickel 13585
Most active ShFE nickel 102770
Three month LME tin 20915
Most active ShFE tin 144370
BASE METALS ARBITRAGE
LME/SHFE COPPER LMESHFCUc3 996.38
LME/SHFE ALUMINIUM LMESHFALc3 -1366
LME/SHFE ZINC LMESHFZNc3 677.09
LME/SHFE LEAD LMESHFPBc3 18.73
LME/SHFE NICKEL LMESHFNIc3 1716.57
($1 = 6.3320 Chinese yuan renminbi)
(Reporting by Tom Daly; editing by Richard Pullin)