April 18 (Reuters) - Shanghai tin prices climbed over
10% on Tuesday to their highest in more than two months, as
supply fears grew after a major ore producing region in Myanmar
banned mining activities.
The most-traded May tin contract climbed as much as
10.5% to 229,490 yuan a tonne, its highest since Feb. 3.
Benchmark three-month tin on the London Metal Exchange surged as much as 3.9% to $28,440 a tonne, a level
unseen since Feb. 3.
Myanmar's ethnic minority Wa militia will suspend all work
at mines in areas it controls from August, an information
official from the militia force, the United Wa State Army, said
on Monday.
The Wa state is the biggest tin mining producing area in
Myanmar, the world's third-largest producer of the soldering
metal.
LME copper advanced 0.3% to $8,992 a tonne,
aluminium rose 0.4% to $2,388 a tonne, zinc advanced 0.1% to $2,834 a tonne, lead increased 0.7% to
$2,128 a tonne, and nickel rose 0.6% to $24,845 a tonne.
SHFE copper fell 0.6% to 69,640 yuan a tonne,
aluminium rose 0.6% to 18,875 yuan a tonne, nickel increased 0.2% to 188,230 yuan a tonne, zinc fell 0.5% to 22,330 yuan a tonne and lead edged down
0.2% to 15,345 yuan a tonne.
Yangshan copper premium fell to $27.50 a
tonne, its lowest since March 13, indicating falling demand for
imported copper into China, as imports arbitrage was mostly
shut.
For the top stories in metals and other news, click or DATA/EVENTS (GMT)
0200 China Urban Investment (YTD) YY March
0200 China Retail Sales YY March
0200 China GDP YY Q1
0200 China Unemp Rate Urban Area March
0600 UK Claimant Count Unemp Chng March
0600 UK ILO Unemployment Rate Feb
0600 UK HMRC Payrolls Change March
0900 Germany ZEW Economic Sentiment April
0900 Germany ZEW Current Conditions April
1230 US Housing Starts Number March
(Reporting by Mai Nguyen in Hanoi; Editing by Subhranshu Sahu)
mai.nguyen.thomsonreuters.com@reuters.net))
LME price overview COMEX copper futures All metals news All commodities news Foreign exchange rates SPEED GUIDES ))
