(Adds details, updates prices, quotes)
By Mai Nguyen
SINGAPORE, Nov 8 (Reuters) – Copper and aluminium prices were mixed on Thursday, along with other base metals, after results of the U.S. midterm elections came in as expected and ahead of the Federal Reserve’s policy statement.
Most base metals traded in narrow ranges, with nickel the underperformer, sliding more than 1 percent.
Three-month copper on the London Metal Exchange was off 0.2 percent at $6,140.50 a tonne by 0500 GMT and aluminium was nearly flat at $1,984.50.
* CHINA DATA: China’s exports of unwrought aluminium and products jumped 38 percent from a year ago to 482,000 tonnes, but were down slightly from September and the lowest level since May amid lower domestic production.
* ALUMINIUM: Top alumina refinery Alunorte in Brazil, run by Norsk Hydro, will remain on half capacity for environmental violations following a Wednesday federal court ruling, while the U.S. Commerce Department said it would impose final duties on Chinese common alloy aluminium sheet products. Senior analyst Jackie Wang of CRU Group said she had expected Alunorte to maintain 50 percent capacity until the first quarter of 2019 or even later.
* RUSSIA SANCTIONS: With Democrats securing control of the U.S. House of Representatives at the midterm elections, sanctions on Russia may be maintained “given Russia has been one of the focal points of the opposition’s attack on the current administration”, Dee Perera of Marex Spectron said in a note.
* CHINA COPPER: China’s imports of copper ores and concentrates fell 18.7 percent from last month to 1.57 million tonnes in October, but were up 14.5 percent from the same time last year.
* FED MEETING: The U.S. central bank’s Federal Open Market Committee is expected to maintain the hawkish language seen in recent policy statements, while keeping interest rates unchanged later on Thursday.
* OTHER METALS: LME nickel slid 1.1 percent to $11,685 a tonne and zinc rose 0.2 percent to $2,459 after hitting a seven-week low on Wednesday. On the Shanghai Futures Exchange, nickel was down 1.1 percent, zinc eased 0.3 percent and aluminium gained 0.7 percent.
* MARKETS: Asian stocks rose to a one-month peak as investors, relieved to have moved past the U.S. midterm elections without any major political surprises, drove a Wall Street rally, while the dollar bounced and pulled away from 2-1/2-week lows.
Three month LME copper
Most active ShFE copper
Three month LME aluminium
Most active ShFE aluminium
Three month LME zinc
Most active ShFE zinc
Three month LME lead
Most active ShFE lead
Three month LME nickel
Most active ShFE nickel
Three month LME tin
Most active ShFE tin
ARBS ($1 = 6.9312 Chinese yuan)
Reporting by Mai Nguyen; editing by Richard Pullin