SINGAPORE/BEIJING, Jan 6 (Reuters) - London copper prices steadied on Monday after falling sharply in the previous session, while zinc hit a two-week high as the soon-to-be signed Phase 1 trade deal between the United States and China boosted prospects of higher demand.
A Chinese delegation is planning to travel to Washington on Jan. 13 for the signing of the U.S.-China Phase 1 trade deal, the South China Morning Post reported on Sunday.
Monetary policy easing by Beijing and a better-than-expected manufacturing performance from China in December were also creating a favourable backdrop for copper, Argonaut Securities said in a note.
* Tensions in the Middle East after the killing of a top Iranian general by the United States pushed an index of Asian shares off an 18-month high as investors pushed safe-haven gold near a seven-year high, and oil jumped to four-month peaks.
BASE METALS PRICES 0740 GMT Three month LME copper 6128.5 Most active ShFE copper 48760 Three month LME aluminium 1816.5 Most active ShFE aluminium 14105 Three month LME zinc 2327 Most active ShFE zinc 18110 Three month LME lead 1910 Most active ShFE lead 14755 Three month LME nickel 13790 Most active ShFE nickel 108190 Three month LME tin 16850 Most active ShFE tin 134570 BASE METALS ARBITRAGE LME/SHFE COPPER LMESHFCUc 519.8 3 LME/SHFE ALUMINIUM LMESHFALc -396.08 3 LME/SHFE ZINC LMESHFZNc -422.09 3 LME/SHFE LEAD LMESHFPBc -710.97 3 LME/SHFE NICKEL LMESHFNIc -2748.14 3 ($1 = 6.9751 Chinese yuan renminbi)