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METALS-London metals recover as stock markets bounce back

BEIJING, Feb 7 (Reuters) - London metals on Wednesday recovered some of the ground they had lost in the previous session as global equities bounced back after days of sharp falls.

FUNDAMENTALS

* LME COPPER: Three-month copper on the LME was up 1 percent at $7,145 a tonne by 0154 GMT, recovering from a 1.3 percent drop in the previous session.

* SHFE COPPER: The most-traded March copper contract on the Shanghai Futures Exchange was down 0.1 percent at 53,080 yuan ($8,485.33) a tonne.

* OTHER METALS: LME zinc, nickel and aluminum made gains of 1 percent to 2 percent, with only lead losing ground, trading down 0.5 percent.

* FREEPORT: Freeport-McMoRan Inc reinstated its cash dividend on Tuesday, three years after suspending it, reflecting a stronger financial position, improved market conditions and a positive outlook for cash generation.

* ZIMBABWE: Zimbabwe has the potential to be a leading producer of lithium, which has so far attracted more interest than any other of its minerals, Zimbabwe's new Minister of Mines and Mining Development Winston Chitando said on Tuesday.

* MARUBENI: Japanese trading house Marubeni Corp on Tuesday posted a 53 percent jump in April-December net profit and lifted its full-year forecast by 18 percent, boosted by higher copper and coal price.

* COLUMN: Africa's mining industry should be poised on the verge of great things, but instead it appears to be seeking a reset button as miners continue to clash with governments over how best to exploit the continent's resources.

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MARKETS NEWS

* Asian share markets were trying to find their footing on Wednesday as a semblance of calm returned to Wall Street where major indices bounced into the black after days of deep losses.

DATA AHEAD (GMT)

0700 Germany Industrial output Dec 0745 France Trade data Dec 0800 China Forex reserves Jan

PRICES

BASE METALS PRICES 0150 Three month LME copper 7149 Most active ShFE copper 53080 Three month LME aluminum 2193 Most active ShFE 14230

aluminum

Three month LME zinc 3499.5 Most active ShFE zinc 26665 Three month LME lead 2609 Most active ShFE lead 19330 Three month LME nickel 13635 Most active ShFE nickel 102760 Three month LME tin 21845 Most active ShFE tin 151310

BASE METALS ARBITRAGE

LME/SHFE COPPER LMESHFCUc3 1130.11 LME/SHFE ALUMINIUM LMESHFALc3 -1616.9

8

LME/SHFE ZINC LMESHFZNc3 681.99 LME/SHFE LEAD LMESHFPBc3 -327.36 LME/SHFE NICKEL LMESHFNIc3 1688.13

($1 = 6.2555 Chinese yuan)

(Reporting by Tom Daly; Editing by Subhranshu Sahu)