News: RIO METALS-Copper retreats after early spurt as equities recover

(Recasts to show copper down, updates prices)

London copper traded lower on Wednesday as investors turned positive on equities after an initial flight to commodities ahead of key events unfolding this week.

With British elections, a European Central Bank policy meeting where policymakers may take a less dovish stance, and former FBI director James Comey's Senate testimony all set for Thursday, investors are wary of taking big positions in stock markets.

"Political uncertainty continues to drive commodity markets, while a weaker U.S. dollar helps improve investor appetite," Australia & New Zealand Bank said in client note.

• LME COPPER DOWN: Three-month copper on the London Metal Exchange CMCU3 slipped 0.04 percent to $5,597 a tonne by 0700 GMT.
• ShFE COPPER FOLLOWS: The most-traded copper contract on the Shanghai Futures Exchange SCFcv1 slipped 0.6 percent to 44,880 yuan ($6,607) a tonne.
• ALUMINIUM: Qatar's isolation by top Arab nations has already hit aluminium exports from a plant part-owned by Norway's Norsk Hydro NHY.OL, which warned it would take time to restart them.
• RIO TINTO: Rio Tinto (RIO) and China Minmetals Corp signed an outline deal on collaboration in mineral exploration.
• DOLLAR STUCK: The dollar was near a six-week low against the safe-haven yen.
• LEAD: ShFE lead SPBcv1 was the biggest loser in China metals futures, down more than 1 percent at the open, closing 0.66 percent down. LME lead prices CMPB3 were slightly firmer at $2,075 a tonne, reversing overnight loss.

  PRICES Three month LME copper CMCU3 Most active ShFE copper SCFcv1 Three month LME aluminium CMAL3 Most active ShFE aluminium SAFcv1 Three month LME zinc CMZN3 Most active ShFE zinc SZNcv1 Three month LME lead CMPB3 Most active ShFE lead SPBcv1 Three month LME nickel CMNI3 Most active ShFE nickel SNIcv1 Three month LME tin CMSN3 Most active ShFE tin SSNcv1

  ARBS LMESHFCUc3 LMESHFALc3 LMESHFZNc3 LMESHFPBc3 LMESHFNIc3

($1 = 6.7929 Chinese yuan)

	<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ 
Top base and precious metals analysis - GFMS	 http://tmsnrt.rs/2lvmIzW 

	^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>