MELBOURNE, March 8 (Reuters) - Metals at risk of a tariff on
U.S. imports largely recovered from steep falls on Thursdayafter an official said certain key partners could be exempt fromduties allaying concerns over demand. FUNDAMENTALS * TARIFFS: Concerns that the
U.S. could slap down importtariffs on steel, impacting zinc, used in galvanised steel andnickel, used in stainless steel, as well as aluminium havedragged those metals in the past week. * TRUMP:
U.S. President Donald Trump plans to offer
Canadaand
Mexico a 30-day exemption from planned tariffs on steel andaluminium imports, which could be extended based on progress inNAFTA talks, a White House official said on Wednesday night. * PRICES: Prices of aluminium and zinc thatwere sold down on Wednesday recovered by more than half apercent. LME nickel slipped half a percent, havingfallen less severely in the previous session. * COPPER: London Metal Exchange copper traded flatat
$6,947 a tonne by 0254 GMT, after falling 0.8 percent in theprevious session. Shanghai Futures Exchange coppertraded down 0.6 percent at
52,370 yuan (
$8,275) a tonne. *
JAPAN ECONOMY:
Japan's economy expanded more thaninitially estimated in October-December due to an upwardrevision of capital expenditure and inventory data, confirmingan eighth consecutive quarter of growth. * DRC: Democratic Republic of Congo President Joseph Kabilawill soon sign into law a new mining code, the government andthe country's mining companies said on Wednesday. The code hasbeen vigorously opposed by the miners. * ERG: Debt-laden Kazakh miner Eurasian Resources Group(ERG) has revived efforts to sell its Frontier copper mine in
Democratic Republic of Congo (DRC) despite a drop in valuationto about
$400 million, two banking sources said. *
U.S. ECONOMY: When Donald Trump became president last yearhe vowed to make American manufacturing giants, such asHarley-Davidson and Caterpillar great again. Buta year later, the two companies stand to take a hit from hispolicies. * For the top stories in metals and other news, click or MARKETS NEWS * Asian shares found relief on Thursday as fears about aglobal trade war amid
U.S. President Donald Trump's push tointroduce protectionist tariffs were tempered by signs the movecould include carve-outs for key partners. DATA/EVENT AHEAD (GMT) * China Trade data Feb 1245 European Central Bank interest rate announcementfollowed by press briefing by ECB President Mario Draghi 1330 U.S. Weekly jobless claims * No exact timing BASE METALS PRICES 0215 GMT Three month LME copper 6946.5 Most active ShFE copper 52350 Three month LME aluminium 2103 Most active ShFE aluminium 14190 Three month LME zinc 3280 Most active ShFE zinc 25280 Three month LME lead 2396.5 Most active ShFE lead 18560 Three month LME nickel 13515 Most active ShFE nickel 102800 Three month LME tin 21390 Most active ShFE tin 146280 BASE METALS ARBITRAGE LME/SHFE COPPER LMESHFCUc3 1096.55 LME/SHFE ALUMINIUM LMESHFALc3 -1269.12 LME/SHFE ZINC LMESHFZNc3 632.36 LME/SHFE LEAD LMESHFPBc3 145.86 LME/SHFE NICKEL LMESHFNIc3 1496.61(
$1 = 6.3287 Chinese yuan) (Reporting by Melanie Burton, Editing by Sherry Jacob-Phillips)