BEIJING, Feb 7 (Reuters) - London metals on Wednesday recovered some of the ground they had lost in the previous session as global equities bounced back after days of sharp falls.
FUNDAMENTALS
* LME COPPER: Three-month copper on the LME CMCU3 was up 1 percent at $7,145 a tonne by 0154 GMT, recovering from a 1.3 percent drop in the previous session. SHFE COPPER: The most-traded March copper contract on the Shanghai Futures Exchange SCFcv1 was down 0.1 percent at 53,080 yuan ($8,485.33) a tonne.
* OTHER METALS: LME zinc CMZN3 , nickel CMNI3 and aluminium CMAL3 made gains of 1 percent to 2 percent, with only lead CMPB3 losing ground, trading down 0.5 percent.
* FREEPORT: Freeport-McMoRan Inc FCX.N reinstated its cash dividend on Tuesday, three years after suspending it, reflecting a stronger financial position, improved market conditions and a positive outlook for cash generation. ZIMBABWE: Zimbabwe has the potential to be a leading producer of lithium, which has so far attracted more interest than any other of its minerals, Zimbabwe's new Minister of Mines and Mining Development Winston Chitando said on Tuesday. MARUBENI: Japanese trading house Marubeni Corp 8002.T on Tuesday posted a 53 percent jump in April-December net profit and lifted its full-year forecast by 18 percent, boosted by higher copper and coal price. COLUMN: Africa's mining industry should be poised on the verge of great things, but instead it appears to be seeking a reset button as miners continue to clash with governments over how best to exploit the continent's resources. For the top stories in metals and other news, click
TOP/MTL or MET/L
MARKETS NEWS
* Asian share markets were trying to find their footing on Wednesday as a semblance of calm returned to Wall Street where major indices bounced into the black after days of deep losses. MKTS/GLOB
DATA AHEAD (GMT)
0700 Germany
Industrial output Dec
0745 France
Trade data Dec
0800 China
Forex reserves Jan
PRICES
BASE METALS PRICES
0150 Three month LME copper
CMCU3
7149 Most active ShFE copper
SCFcv1
53080 Three month LME aluminium CMAL3
2193 Most active ShFE
SAFcv1
14230 aluminium
Three month LME zinc
CMZN3
3499.5 Most active ShFE zinc
SZNcv1
26665 Three month LME lead
CMPB3
2609 Most active ShFE lead
SPBcv1
19330 Three month LME nickel
CMNI3
13635 Most active ShFE nickel
SNIcv1
102760 Three month LME tin
CMSN3
21845 Most active ShFE tin
SSNcv1
151310
BASE METALS ARBITRAGE
LME/SHFE COPPER
LMESHFCUc3 1130.11 LME/SHFE ALUMINIUM
LMESHFALc3 -1616.9
8 LME/SHFE ZINC
LMESHFZNc3 681.99 LME/SHFE LEAD
LMESHFPBc3 -327.36 LME/SHFE NICKEL
LMESHFNIc3 1688.13
($1 = 6.2555 Chinese yuan)
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