BEIJING, July 27 (Reuters) - Shanghai base metal prices rose
on Friday, buoyed by a 20-percent year-on-year jump in profits
for China's industrial companies in June, even as profit growth
in the non-ferrous sector fell.
Shanghai copper edged up and is on course to gain 3.6
percent this week, which would mark its first weekly rise in
seven after fears of a global trade war dragged on the market.
FUNDAMENTALS
* SHFE COPPER: The most-traded September copper contract on
the Shanghai Futures Exchange had inched up 0.1 percent
to 50,070 yuan ($8,676.56) a tonne by 0152 GMT.
* LME COPPER: Three-month copper on the London Metal
Exchange slipped 0.2 percent to $6,277 a tonne, after
ending flat in the previous session, but is also on course for
its first weekly jump in seven.
* CHINA: Profits at China's industrial companies in June
rose 20 percent from a year earlier, the statistics bureau said
on Friday, versus a 21.1-percent gain in May.
* ALUMINIUM: Shanghai aluminium gained 0.2 percent
and is on course for a 2.2-percent gain over the week, which
would be its biggest weekly jump since the week ending April 20.
London aluminium is heading for its first weekly jump in
eight after funds cut bets on lower prices.
* ALERIS: India's Hindalco Industries Ltd said its
U.S. unit Novelis Inc has agreed to buy aluminium processor
Aleris Corp for $2.6 billion, giving it a foothold in supplying
the aerospace industry and other value-added businesses
globally.
* PERU: Anglo American is going ahead with the $5
billion development of its Quellaveco project in Peru, one of
the world's largest untapped copper resources with the potential
to transform the company's business outlook.
* TARIFFS: French President Emmanuel Macron said on Thursday
he wanted to see gestures from the United States over steel and
aluminium taxes and that he opposed entering a negotiation for a
comprehensive trade agreement between Europe and Washington.
