METALS-Copper edges up; World Bank seeds growth optimism

Tuesday, 14 Jan 2014 | 8:32 PM ET

SYDNEY, Jan 15 (Reuters) - London copper edged up on Tuesday after the World Bank raised its forecast for global growth for the first time in three years, boosting sentiment and burnishing the outlook for demand.


* Three-month copper on the London Metal Exchange edged up by 0.2 percent to $7,296 a tonne by 0110 GMT from the previous session when it slipped 0.7 percent.

* The most-traded March copper contract on the Shanghai Futures Exchange inched up 0.1 percent to 51,710 yuan ($8,600) a tonne.

* LME nickel prices were little changed at $14,338 a tonne, having advanced nearly 1 percent on Tuesday and more than 7 percent since Thursday, after new laws banning exports of ore from Indonesia came into force at the weekend.

* The World Bank on Tuesday raised its forecast for global growth for the first time in three years as advanced economies started to pick up pace, led by the United States.

* The Federal Reserve should bring its bond-buying program to a swift close, according to two of its most hawkish policymakers who take up voting power this year, with Dallas Fed chief Richard Fisher vowing to use his vote to support cuts to the program even if stocks, now near record highs, take a tumble.

* Aluminium smelters in Spain and Germany are under threat of closure due to low London Metal Exchange prices, high power costs and excessive regulation, an industry analyst said, reinforcing concerns about the future of the region's producers.

* Pan Pacific Copper, Japan's biggest smelter, said on Wednesday it would not sign a long-term contract for copper processing fees with global miner BHP Billiton in 2014, after they couldn't agree on terms.

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* Asian shares made guarded gains on Wednesday as surprising strength in U.S. consumer spending reassured investors the recovery in the world's largest economy had not been derailed, lifting the dollar and Wall Street.


0200 China New yuan loans

0200 China M2 money supply

0800 Germany 2013 GDP

1000 Euro zone Trade data

1330 U.S. Producer prices

1330 U.S. New York Fed manufacturing


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 = 6.0412 Chinese yuan)

(Reporting by Melanie Burton; Editing by Richard Pullin)