July 29 (Reuters) - London copper prices advanced on
Thursday, supported by a weaker dollar that makes
greenback-priced metals cheaper and more appealing to holders of
The dollar hovered around a two-week low, weighed down by
the latest insistence from Federal Reserve Chairman Jerome
Powell that rate increases aren't on the radar.
Three-month copper on the London Metal Exchange rose
0.6% to $9,746 a tonne by 0246 GMT, while the most-traded
September copper contract on the Shanghai Futures Exchange
fell 0.8% to 71,550 yuan ($11,044.73) a tonne, tracking
overnight losses in London.
* LME nickel rose 0.8% to $19,695 a tonne, aluminium
fell 0.4% to $2,528 a tonne, ShFE nickel
climbed 0.8% to 147,150 yuan a tonne and ShFE aluminium
advanced 0.5% to 19,560 yuan a tonne.
* The premium of LME cash aluminium over the three-month
contract <CMAL0-3> stretched to $9.25 a tonne, the most since
June 17, indicating tightening nearby supplies.
* Canadian copper miner First Quantum Minerals has
shelved plans to sell a stake in its Zambian copper mines, Chief
Operating Officer Tristan Pascall said on Wednesday.
* The union at BHP Group Ltd's Escondida copper
mine in Chile, the world's largest, on Wednesday urged its
members to vote to strike, saying the company was attempting to
impose its will and its contract offer was "insufficient".
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* Asian shares managed a semblance of calm as the Fed
signalled it was in no rush to taper stimulus, though the mood
was fragile as investors waited to see if Beijing could stem the
recent bloodletting in Chinese shares.
0755 Germany Unemployment Chg, Rate SA July
0900 EU Consumer Confid. Final July
1200 Germany CPI, HICP Prelim YY July
1230 US GDP Advance Q2
1230 US Initial Jobless Clm Weekly
($1 = 6.4782 yuan)
(Reporting by Mai Nguyen in Hanoi; editing by Vinay Dwivedi)