Shanghai metals claw back more ground after trade war…

BEIJING, June 28 (Reuters) – Shanghai base metals prices rose for a second session on Thursday, continuing their recovery from a sell-off triggered by trade war tensions between China and the United States, even as Asian equities continued to be affected. FUNDAMENTALS * SHFE COPPER: The most-traded August copper contract on the Shanghai Futures Exchange was up 0.3 percent at 51,730 yuan ($7,819.40) a tonne, as of 0205 GMT. * LME COPPER: Three-month copper on the London Metal Exchange was flat at $6,692 a tonne, after closing down 0.3 percent in the previous session. * OTHER METALS: Shanghai lead was the biggest gainer in the base metals complex, rising as much as 2.7 percent as it traded higher for a fourth day, while zinc nudged up 1.7 percent and nickel added 1.3 percent. * ZINC: Australia’s New Century Resources is on track to turn a giant tailings dam into the world’s fifth-biggest source of zinc as it defies doubters to make its first shipment in August, said Patrick Walta, the mineral processor’s managing director. * CHINA: Profits at China’s industrial firms rose sharply in May, maintaining the previous month’s sizzling pace despite signs of slowing momentum in the world’s second-largest economy and an intensifying trade spat with the United States. * NORILSK: Russian tycoon Oleg Deripaska got a boost on Wednesday in a long-running battle for control of Norilsk Nickel when a high court judge ruled fellow investor Roman Abramovich did not have the right to sell shares in the miner to a third businessman. * For the top stories in metals and other news, click or MARKETS NEWS * Asian stocks slumped to nine-month lows on Thursday on growing worries the U.S. administration’s approach to trade is harming global economic growth even as it appeared to be modifying its approach to curb Chinese investments in U.S. technology firms. DATA AHEAD (GMT) 0600 Germany GfK consumer sentiment July 0900 Euro zone Business climate June 1200 Germany Consumer prices June 1230 U.S. Revised corporate profits Q1 1230 U.S. Final GDP Q1 1230 U.S. Weekly jobless claims PRICES BASE METALS PRICES 0205 GMT Three month LME copper 6692 Most active ShFE copper 51730 Three month LME aluminium 2170.5 Most active ShFE aluminium 14185 Three month LME zinc 2878.5 Most active ShFE zinc 23200 Three month LME lead 2435 Most active ShFE lead 20520 Three month LME nickel 14910 Most active ShFE nickel 116560 Three month LME tin 19780 Most active ShFE tin 144520 BASE METALS ARBITRAGE LME/SHFE COPPER LMESHFCUc3 163.66 LME/SHFE ALUMINIUM LMESHFALc3 -2514.36 LME/SHFE ZINC LMESHFZNc3 473.76 LME/SHFE LEAD LMESHFPBc3 624.52 LME/SHFE NICKEL LMESHFNIc3 -283.36 ($1 = 6.6156 Chinese yuan) (Reporting by Tom Daly, Editing by Sherry Jacob-Phillips)