METALS-London metals prices mixed on optimism around US-China trade talks

SHANGHAI, April 28 (Reuters) - London metals prices were mixed on Monday as optimism over easing U.S.-China trade tensions offered some respite to investors, although concerns over the fragile negotiations lingered.

Benchmark copper CMCU3 on the London Metal Exchange (LME) was flat at $9,378 a metric ton by 0737 GMT.

The thaw in relations was sparked by China's decision to exempt certain U.S. imports from its retaliatory tariffs, a move seen as a sign that the trade war between the world's two biggest economies may be abating.

U.S. President Donald Trump's administration had signalled a willingness to de-escalate the trade conflict last week.

Trump asserted that talks on tariffs were underway with China, although Beijing has denied that any talks have are occurring.

The protracted trade spat raised concerns about a potential global recession, and investors have been closely watching developments.

"The market is currently being driven by U.S.-China trade talks, and while there is optimism around that, we remain cautious as sentiment can shift rapidly," said a trader, highlighting the ongoing uncertainty surrounding the negotiations.

In other London metals, aluminum CMAL3 slipped 0.1% to $2,426.5 a ton, zinc CMZN3 slipped 0.3% to $2,637, lead CMPB3 rose 1.2% to $1,967, tin CMSN3 lost 0.6% to $31,790 and nickel CMNI3 was up 0.8% at $15,650 a ton.

Meanwhile, the most-traded copper contract on the Shanghai Futures Exchange (SHFE) dipped 0.1% to 77,580 yuan ($10,630.46) per metric ton.

SHFE aluminum SAFcv1 dipped 0.1% to 19,935 yuan a ton, zinc SZNcv1 slid 1% to 22,520 yuan, lead SPBcv1 was down 0.1% to 17,005 yuan, while nickel SNIcv1 fell 0.8% to 124,690 yuan, and tin SSNcv1 lost 0.6% to 260,570 yuan.

($1 = 7.2979 Chinese yuan renminbi)

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