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(Recast, update prices, add price data of Chinese houses)
By Mai Nguyen
SINGAPORE, April 16 (Reuters) – Nickel prices rose on Tuesday as the faster rise in real estate prices boosted hopes that China's stimulus policies will translate into stronger growth .
Reference nickel rose 1% to $ 13,125 per tonne and the Shanghai Futures Exchange (ShFE) 's most active nickel futures closed up 1.1% to 102,270 yuan (15,251 shares). , $ 43) per tonne.
Gains corresponded to a jump in Chinese equities, which reached its highest level in 13 months after Chinese data show that new home prices rose slightly faster in March after slowing growth in the previous month, placing a floor under the cooling of the market.
"The macro environment … is becoming more and more optimistic," said a Guangzhou-based badyst, who requested anonymity because of the company's policy.
London copper also rose 0.4% after a dull trading session early in the Asian day, as investors leaned on a set of Chinese data expected to be released on Wednesday, including the economic growth of China in the first quarter of 2019.
"China has experienced this mbadive credit expansion for March and if the March data still shows a lack of growth or a very weak economy, people will begin to question the real need for the expansion of the credit, "said Helen Lau, an badyst at Argonaut Securities. .
FUNDAMENTALS
* COPPER: The funds played Copper this year from the short side to the long side, but with little success in either case, in part because of the lack of directional impulse of copper in recent weeks, said Reuters columnist Andy Home.
* ZINC PRICE: London zinc sold 1.2%, the second consecutive decline, while the most active zinc contract on the Shanghai Futures Exchange (ShFE) lost 1.7% .
* ZINC INVENTORIES: Zinc stocks in an LME-approved warehouse climbed 7.5% from the previous day to a record high of 56,125 tonnes in three weeks, according to the latest data. MZNSTX TOTAL
Shelf-weighted zinc inventories at ShFE warehouses also recorded a daily increase of 7 percent on Monday to 51,976 tonnes. WSZN-TOTAL-D
"Zinc was put under pressure after the sharp increase in stocks at the LME. The 7.5% increase is the biggest increase in almost a year, "said ANZ in a note.
* ERAMET: The French mining group Eramet said that the New Caledonian government of New Caledonia had given a boost to its nickel division SLN, which was in deficit.
* RUSAL: Rusal, the world's largest producer of aluminum outside of China, makes its first investment in the United States since Washington lifted sanctions against the Russian aluminum giant, by partnering with US manufacturer Braidy Industries to build a plant in Kentucky.
* TRADE: US Treasury Secretary Steve Mnuchin told Fox Business Network Monday that trade talks between Washington and their Chinese counterparts "are making a lot of progress."
Investors will pay more and more attention to the progress of trade negotiations if Chinese economic data disappoint, said Lau d'Argonaut.
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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 = 6,7056 Chinese yuan in renminbi)
Mai Nguyen report; Edited by Shreejay Sinha and Rashmi
Aich
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