METALS-Copper slides to 3-mth low on U.S. tapering worries

Monday, 18 Nov 2013 | 8:37 PM ET

SINGAPORE, Nov 19 (Reuters) - London copper slid to a three-month low on Tuesday after U.S. Federal Reserve officials flagged a brightening outlook for the world's top economy, fuelling expectations it may soon curb its commodity-friendly stimulus.


* Three-month copper on the London Metal Exchange was trading at $6,933.25 a tonne by 0106 GMT. It earlier sunk to its weakest since Aug. 7 at $6,921 a tonne, extending losses of half a percent from the previous session.

* The most-traded February copper contract on the Shanghai Futures Exchange fell 0.88 percent to 49,810 yuan ($8,200) a tonne, also tipping a three-month low.

* Top Fed officials from opposite sides of the policy spectrum pointed to improvement in the U.S. economy on Monday, adding more weight to the notion that the central bank is getting close to reducing the pace of its monthly asset purchases.

* Scaling down asset purchases would reduce the pool of liquidity available to businesses and to commodities investors.

* Investors rewarded Beijing on Monday for its ambitious reform plan, sustaining a stocks rally led by consumer goods shares seen as direct beneficiaries of the promised easing of China's one-child policy and efforts to boost consumption.

* Rio Tinto Ltd , one of the world's top mining companies, has sold most of its stake in aluminum products maker Constellium NV for about $330 million, according to a regulatory filing on Monday.

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* Asian shares slipped back from a two-week high on Tuesday after the previous session's hefty gains on China's economic reform plans, while the dollar was on the defensive.


0200 China foreign direct investment

1000 Germany ZEW economic sentiment

1245 U.S. ICSC weekly chain store sales

1330 U.S. employment cost index

1355 U.S. Redbook weekly retail sales


Three month LME copper

Most active ShFE copper

Three month LME aluminium

Most active ShFE aluminium

Three month LME zinc

Most active ShFE zinc

Three month LME lead

Most active ShFE lead

Three month LME nickel

Three month LME tin

($1 = 6.0920 Chinese yuan)

(Reporting by Melanie Burton)