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By Mai Nguyen
SINGAPORE, April 1 (Reuters) – Nickel advanced on Monday, gaining ground-rock markets, after stimulus packages in China, the world's largest nickel consumer, boost the economy and boost economic growth. trade negotiations with the United States are progressing.
The official Purchasing Managers' Index (PMI) revealed Sunday that factory activity in China unexpectedly increased for the first time in four months in March, suggesting that the stimulus measures adopted by the government could be gaining ground.
The figure of the PMI Caixin / Markit Manufacturing Index released Monday also confirms the government data, showing that the sector has developed last month.
US President Donald Trump said last week that trade talks with China are going "very well." China has announced that it will maintain the suspension of additional tariffs on US vehicles and auto parts after April 1, in consideration of the postponement of tariff increases on Chinese imports.
"The PMI and the negotiations between the United States and China are going well … and people are optimistic about future demand. The economy may not be as bad as expected, "said a Guangzhou-based metals badyst who asked to remain unidentified, citing his company's media policies.
FUNDAMENTALS
* NICKEL: Nickel in London jumped 2.2% to $ 13,275 per tonne, the largest increase since March 5, while nickel on the Shanghai Futures Exchange (ShFE) jumped 2.4% to 102,620 yuan ($ 15,301.57) per tonne.
* NICKEL STOCKS: Nickel stocks in LME approved warehouses, MNISTX-TOTAL, fell to 182,574 tonnes, their lowest level since June 2013. ShFE SNI-TOTAL-D nickel stocks fell to their lowest level level since August 2015, to 8,718 tonnes on Friday.
* COPPER: The three-month copper on the London Metal Exchange rose 0.7% to 0350 GMT, or $ 6,529 per tonne, while the most active copper contract on the ShFE grew by 1.7% at 49,470 yuan per ton.
Other base metals on both stock exchanges also increased.
* CODELCO: Codelco, the world's largest copper producer, recorded 3.3% lower copper production in 2018 than in the previous year, due to lower grade and higher costs of its aging mines.
* MMG / LAS BAMBAS: The leader of a newly released indigenous community who has banned access to the copper mine of the Chinese MMG Ltd, Las Bambas, of MMG Ltd in Peru, s & # 39; is declared open to discussions with the government, the first sign of a potential breakthrough in a conflict that has halted exports of the mine, responsible for 2% of global copper production.
* SIERRA GORDA: Polish miner KGHM and a union representing workers at its Sierra Gorda copper mine in Chile reached an agreement on contract negotiations, the union's leader told Reuters, putting an end to the threat of strike.
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PRICES
Three months of copper LME
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
LME tin of three months
ShFE Pewter the most active
ARBS ($ 1 = 6,7065 Chinese yuan in renminbi)
Mai Nguyen report; Edited by Rashmi Aich and Christian
Schmollinger
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