London copper prices fell on Tuesday as a revenue warning by Apple Inc highlighted the impact of the coronavirus outbreak on economic activity in China, the world’s top consumer of the red metal.

Three-month copper on the London Metal Exchange (LME) was down 0.3% at $5,797 a tonne by 0252 GMT.

Apple Inc on Monday became the latest company to flag lower revenue as a result of the epidemic, which has claimed more than 1,800 lives in mainland China and infected about 72,500 people.

The number of new infections in the world’s second-largest economy fell below 2,000 for the first time since January on Tuesday, but experts said the outbreak has not been contained.

Nickel declined 1% to $12,975 a tonne, zinc dipped 0.6% to $2,610 a tonne, lead declined 0.3% to $1,867.50 while aluminum advanced 0.2% to $1,725 a tonne.


* COPPER: Yangshan copper premium rose to a three-month high of $60 a tonne, data by Shanghai Metals Market showed.

* BHP: BHP Group, BHPB.L will be looking to expand in copper and nickel to position itself well in a world that is decarbonising, chief executive Mike Henry said.

* SHANGHAI PRICES: The most-traded copper contract on the Shanghai Futures Exchange edged up 0.2% to 46,120 yuan ($6,596.77) a tonne, aluminum rose 0.4% to 13,690 yuan a tonne while nickel fell 1.1% to 103,850 yuan a tonne.

* For the top stories in metals and other news, click or


* Asian shares fell and Wall Street retreated from record highs on Tuesday after Apple’s announcement.


0930 UK Claimant Count Unem Chng Jan

READ  Breaking Up Facebook Would Handicap Efforts to Fix Platform, Execs Say - Variety

0930 UK ILO Unemployment Rate Dec

1000 Germany ZEW Economic Sentiment Feb

1000 Germany ZEW Current Conditions Feb


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 = 6.9913 Chinese yuan renminbi) (Reporting by Mai Nguyen; Editing by Aditya Soni)



Please enter your comment!
Please enter your name here