HANOI, May 21 (Reuters) – Most base metals fell on Friday, weighed down by fears that authorities in top consumer China will take measures to curb a rally in commodity prices.
Three-month copper on the London Metal Exchange fell 1.1% to $9,939 a tonne by 0313 GMT, while the most-traded June copper contract on the Shanghai Futures Exchange declined 1.1% to 72,050 yuan ($11,198.15) a tonne.
ShFE aluminium decreased 1.3% to 18,800 yuan a tonne and ShFE nickel dropped 2.5% to 125,160 yuan a tonne, while LME nickel shed 1.2% to $16,935 a tonne.
China said on Wednesday it would strengthen its management of commodity supply and demand to curb “unreasonable” increases in prices and prevent them being passed on to consumers.
0600 UK Retail Sales MM, YY; Ex-Fuel MM April
0715 France Markit Mfg, Serv, Comp Flash PMIs May
0730 Germany Markit Mfg, Serv, Comp Flash PMIs May
0800 EU Markit Mfg, Serv, Comp Flash PMIs May
0830 UK Flash Comp, Mfg, Serv PMIs May
1345 US Markit Mfg, Serv, Comp Flash PMIs May
1400 US Existing Home Sales April
1400 EU Consumer Confid. Flash May
0700 Finance ministers from the 19 countries sharing the
euro meet in person in Lisbon to discuss macroeconomic
and fiscal developments in the euro area.
($1 = 6.4341 yuan)