SINGAPORE, Sept 5 (Reuters) - Shanghai copper rallied to over a one-month high, while London copper jumped to its highest in more than two weeks on Thursday after China and the United States agreed to hold trade talks next month.
Chinese and U.S. officials are scheduled to meet in early October in Washington to discuss trade issues, China's commerce ministry said, adding that both sides agreed to take actual actions to create favorable conditions.
The prolonged trade war between the two countries has been hurting demand outlook for copper, used widely in power and construction.
Three-month copper on the London Metal Exchange advanced as much as 0.8% to $5,795 a tonne, its highest since Aug. 19, before easing to trade up 0.6% at 0232 GMT.
The most-traded copper contract on the Shanghai Futures Exchange rose as much as 2.1% to 47,150 yuan ($6,647.59) a tonne, its highest since July 30.
* COPPER STOCKS: LME on-warrant copper inventories <MCUSTX-TOTAL>, or those available for delivery, fell to a two-month low of 209,650 tonnes.
* NICKEL SPREAD: The premium of LME nickel cash over the three month contract <MNI0-3> fell further to a three-week low of $15 a tonne, indicating a supply crunch has eased.
NICKEL PRICES: LME nickel declined 1.7% while Shanghai nickel broke a five-session gaining streak to fall 2.3%.
* CHINA: China said it will implement both broad and targeted cuts in the reserve requirement ratio for banks "in a timely manner," an indication that a cut in the key ratio aimed at boosting lending could be imminent.
* COPPER: Mantos Copper said on Wednesday that it had clinched $250 million in financing to extend the life of its Mantos Blancos copper mine in northern Chile.
* OTHER PRICES: LME aluminum edged down 0.2%, zinc rose 0.1% and lead increased 0.2%. Shanghai zinc rose 2.4%, lead eased 0.1% while tin advanced 1.3%.
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* Asian stocks perked up, as apparent progress in the political crises in Britain and Hong Kong gave investor confidence a shot in the arm, with easing fears of a hard Brexit lifting the battered pound. Confirmation of talks between U.S. and China also aided sentiment.
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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 = 7.0928 Chinese yuan) (Reporting by Mai Nguyen; editing by Uttaresh.V)