METALS-Copper hitting highs of nearly two weeks, hoping that imports from China may rise

(Adds badyst comments, milestones and updates prices)

MANILA, June 11 (Reuters) – Industrial metals prices were generally higher in Asian trade on Tuesday, as copper prices peaked in nearly two weeks, anticipating a growth in the appetite of the economy. China for these products.

The benchmark copper at the London Metal Exchange climbed 0.8% to $ 5,921 per tonne, its highest level since May 29, after sinking further from the five-month low reached on June 7th.

The most traded copper contract on the Shanghai Futures Exchange rose 1.5% to 46,900 yuan ($ 6,780.59) a tonne, its highest level since May 29.

The Chinese Yangshan SMM-CUYP-CN copper premium jumped to $ 59 per tonne on Monday, a level that has not been seen since mid-March, suggesting an increase in demand.

"The fall in prices and the recovery of the Chinese physical premium should keep imports up (in June)," said ANZ in a note.

Data released on Monday shows that Chinese imports of untreated copper fell 10.9% from the previous month, to stand at 361,000 tonnes in May, and were down 23.2% from the previous month. 470 000 tonnes recorded in May 2018.

"The Yangshan cash bonus fell to the lowest level (this year) in May. In the future, when the premium begins to recover, we expect Chinese appetite to recover in June, "said Helen Lau, a metals and mining badyst at Argonaut Securities in Hong Kong.

The focus has been on the financial markets on the trade dispute between Washington and Beijing.

While US President Donald Trump said Monday that he was ready to impose more punitive tariffs on imports from China, Beijing said it was open to further trade talks with Washington.

Trump said he is ready to meet Chinese President Xi Jinping at the Group of 20 summit to be held in Japan later this month, although China has not yet confirmed the meeting.

FUNDAMENTALS

* ALUMINUM: LME aluminum rose 0.3%, away from the 29-month low hit Monday, as rising exports from China's largest producer fueled concerns over oversupply. Shanghai aluminum rose 0.5%.

* TIN: Shanghai tin gained up to 1.3% to 145,520 yuan a ton. Malaysia Smelting Corp Bhd (MSC) is delaying deliveries to customers, informed sources said.

But MSC, one of the world's largest producers of refined tin, said in a statement that delivery of shipments to customers was on schedule.

* PRICE: LME nickel gained 1%, while Shanghai's rose 0.3%; LME zinc rose 0.9% and Shanghai zinc 0.2%.

* CHINA: China said on Monday that it would allow local governments to use the proceeds of special bonds as capital for major investment projects, in order to support the slowdown of the economy in a context of growing trade war with the United States.

* RUSAL: The Russian Rusal announced to Reuters that he planned to issue a bond denominated in Chinese yuan, called Panda bond, as well as an obligation in rubles because the giant of the Aluminum, removed from the list of US sanctions early 2019, comes back up funds.

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PRICES

LME copper three months

ShFE Copper Most Active

LME three months in aluminum

Most active ShFE aluminum

LME zinc three months

The most active ShFE zinc

Three months ahead on the LME

Most active ShFE lead

LME nickel three months

Most active nickel ShFE

Three month box LME

ShFE Pewter the most active

ARBS

($ 1 = 6.9168 yuan)