METALS-Copper climbs for second day after China liquidity pledge

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    BEIJING, Oct 22 (Reuters) - London copper prices rose for a
second session in early Asian trade on Monday, extending a rally
fuelled by a pledge from China's central bank that it would
support firms with liquidity problems.
    
    FUNDAMENTALS
    * LME COPPER: Three-month copper on the London Metal
Exchange edged up 0.3 percent to $6,236.50 a tonne as of
0210 GMT, extending a 1 percent jump from the previous session.
    * SHFE COPPER: The most-traded December copper contract on
the Shanghai Futures Exchange climbed by 0.8 percent to
50,390 yuan ($7,270) a tonne.    
    * OTHER METALS: Nickel was the biggest gainer, tracking
gains in China's ferrous complex to rise 1.7 percent in London
 and 1.9 percent in Shanghai. Zinc slipped by as
much as 1.8 percent in Shanghai after the ShFE on
Friday reported a 23.3 percent jump in zinc inventories.

    * NICKEL: The bulk of nickel moving out of London Metal
Exchange-approved warehouses in Asia is showing up in hidden
facilities in Europe, analysts said, denting a bullish scenario
of potential shortages.
    * HKEX: A Shenzhen-based commodity exchange controlled by
Hong Kong Exchanges and Clearing unexpectedly began
spot trading on Friday, giving the HKEX much-coveted access to
mainland China's market.
    * LITHIUM: Canada's Nutrien, whose attempt to sell its stake
in Chilean lithium miner SQM to China's Tianqi Lithium has been
stalled by a row about competitive risks, vowed to "protect its
interests" in an interview with a Chilean newspaper published on
Sunday.
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    MARKETS NEWS    
    * Asian share markets fell anew on Monday as investors
braced for the peak of the U.S. earnings season while angst over
Saudi Arabia, Italy and Brexit kept geopolitics front and
centre.    
        
    DATA AHEAD (GMT)
    1230  U.S.            National activity index            Sep
       
    PRICES    
 BASE METALS PRICES                        0206 GMT
 Three month LME copper                        6238
 Most active ShFE copper                      50420
 Three month LME aluminium                     2015
 Most active ShFE aluminium                   14165
 Three month LME zinc                        2630.5
 Most active ShFE zinc                        21870
 Three month LME lead                          1997
 Most active ShFE lead                        18375
 Three month LME nickel                       12655
 Most active ShFE nickel                     104230
 Three month LME tin                          19160
 Most active ShFE tin                        147100
                                                   
 BASE METALS ARBITRAGE                             
 LME/SHFE COPPER              LMESHFCUc3     -13.37
 LME/SHFE ALUMINIUM           LMESHFALc3   -2072.67
 LME/SHFE ZINC                LMESHFZNc3      117.7
 LME/SHFE LEAD                LMESHFPBc3    1297.08
 LME/SHFE NICKEL              LMESHFNIc3     932.12
 
($1 = 6.9311 Chinese yuan renminbi)

    
 (Reporting by Tom Daly; editing by Richard Pullin)

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