Fed Chairman Jerome Powell faces the tough challenge of presenting a unified voice on Fed policy from the most divided Fed in years.Market Insiderread more
Boris Johnson will be meeting President Donald Trump to discuss a potential post-Brexit trade deal just as he tries to court EU leaders for a new withdrawal agreement.World Politicsread more
U.S. Secretary of State Mike Pompeo says Huawei CFO Meng Wanzhou, who is under house arrest in Canada and facing extradition to America, is not a bargaining chip in the trade...Technologyread more
Arturo Estrella has a message for recession naysayers: It could hit sooner than you think.Marketsread more
Accountants in Hong Kong took to the streets on Friday to call for the government to accept five demands of the people, including the complete withdrawal of a now-suspended...China Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
Local governments commonly share single service providers, making many vulnerable at once. On top of this, ransomware has often been used to mask more targeted, malicious...Technologyread more
The unlikely alliance would in theory enjoy a relatively comfortable majority in the parliament's lower house but would rely on a handful of sympathetic but unaligned...Europe Politicsread more
Bank Indonesia on Thursday cut its key policy rate by 25 basis points to 5.5% to support growth amid an increasingly fragile global economy.Central Banksread more
Meanwhile, investors look ahead to Fed Chair Jerome Powell's speech at a yearly central banking symposium in Jackson Hole, Wyoming.Asia Marketsread more
The U.S Energy Information Administration (EIA) says Australia is on track to consistently export more LNG than Qatar.Oil and Gasread more
(Updates prices, adds details)
SINGAPORE, Aug 16 (Reuters) - Shanghai nickel prices surged, while a key indicator of supply shortage jumped to a decade high on Friday, amid ongoing worries about supplies disruption from top ore producer Indonesia.
Shanghai Futures Exchange's most active nickel contract rose as much as 3.7% to 127,700 yuan ($18,132.51) a tonne, hovering near a record high hit on Monday. It ended up 2.3% at close, locking in some 10% gain for the week.
Meanwhile, the premiums of LME nickel cash over three-month contract <CMNI0-3> jumped to $40 a tonne, a decade high, signaling tight nearby supplies and amid ongoing concerns over potential supply disruption from top ore producer Indonesia.
London Metal Exchange benchmark nickel fell 0.5% by 0713 GMT but was on track for its third consecutive weekly gains and has surged 51% so far this year.
Markets have been worried over a possibility that Indonesia, the world's biggest nickel ore producer, could bring forward an export ban on mineral ore, due in 2022, to as early as this year, as it wants to boost value of exported products.
Indonesia's President Joko Widodo said on Friday the country should push further to develop a downstream industry domestically to process natural and mineral resources including bauxite and nickel.
He is due to make a decision whether to bring forward the ore export ban.
* CHINA NICKEL: China's spot price for imported refined nickel <SMM-NIC-IMP> rose to near five-year high at 126,050 yuan a tonne, data by Shanghai Metals Market showed.
* CHINA OUTPUT: China produced 801,000 tonnes of refined copper in July, up 4.8% year-on-year, while alumina output was up 2.9% in the same period to 6.22 million tonnes, official data showed.
* CONFLICTING MESSAGES: U.S. President Donald Trump said U.S. and Chinese negotiators were holding "productive" talks and expected them to meet in September. Meanwhile, China vowed to counter the latest U.S. tariffs but called on the United States to meet it halfway on a potential trade deal.
* "A meaningful trade deal is unlikely to be reached before the next US Presidential elections in late 2020. We expect most base metal prices to remain weak over the coming months... with the exception of nickel which continues to show resilience due to supply-side fears in Indonesia," Fitch said in a note.
* ALUMINIUM: Shanghai aluminum jumped 2% this week, the strongest weekly gain since July 2018, amid supply disruption concerns following recent flooding in China. LME aluminum rose 0.3%.
* SHFE STOCKS: Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 4.1% from last Friday, the exchange said.
* PRICES: London copper increased 0.2%, zinc advanced 0.5% while tin dropped 2%. Shanghai copper rose 0.3%, zinc advanced 0.2% while lead jumped 0.8% and tin fell 0.8%.
* For the top stories in metals and other news, click or
Three month LME copper
Most active ShFE copper
Three month LME aluminum
Most active ShFE aluminum
Three month LME zinc
Most active ShFE zinc
Three month LME lead
Most active ShFE lead
Three month LME nickel
Most active ShFE nickel
Three month LME tin
Most active ShFE tin
ARBS ($1 = 7.0426 Chinese yuan)
(Reporting by Mai Nguyen; Editing by Rashmi Aich and Uttaresh.V)