0240 GMT - Iron ore is lower in early Asian trading. Prices are facing some pressure from ample supply, according to Nanhua Futures analysts in a research note. Global iron ore shipments increased significantly on a sequential basis, primarily driven by higher volumes from Australia, they note. The most-traded iron ore contract on the Dalian Commodity Exchange is down 0.1% at 781 yuan a ton. (tracy.qu@wsj.com)
Copper Rises Amid Tight Supply -- Market Talk
0229 GMT - Copper rises in early Asian trade amid tight global supplies. The world's top copper producer, Chile, posted its lowest production for the month of April in 23 years, reinforcing expectations of tight global supplies, ANZ Research analysts say in a research note. The new chairman of the state-owned copper miner Codelco signaled that it will shift toward profitability over production volume, according to ANZ. Meanwhile, the disruption of supplies from the Persian Gulf has put at risk around 20% of global copper supply. The benchmark three-month LME contract on the London Metal Exchange is up 0.5% at $13,706.00 a ton. (sherry.qin@wsj.com)
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(END) Dow Jones Newswires
